Naholo (24) was picked in a 41-man All Black squad over the weekend after a fine season with the Highlanders, scoring 11 tries to set a franchise record for most tries in a season.
The Fijian-born flier had signed a contract with French powerhouse Clermont before the season even started.
But after having such a good year with the Highlanders and being named in the All Blacks, the powerful winger is not keen to head to France.
Highlanders general manager Roger Clark said Naholo was definitely not going to France.
He had signed a contract with New Zealand Rugby and would be at the Highlanders next year.
On Sunday, Naholo said he was leaving the matter to his agent, Bruce Sharrock. Sharrock could not be contacted yesterday.
Clark said Naholo had a fresh New Zealand Rugby contract and would be staying in the South.
Clermont has made a raft of signings for next season after missing out in the Top 14 title, losing in the final to Stade Francais.
It has let Zac Guildford go but has signed former Highlanders winger Hosea Gear from the Chiefs.
Gear returned to New Zealand this season and joined the Chiefs with the hope of playing well enough to get into contention for an All Black jersey.
However, he struggled to get playing time and was never in with a chance.
Meanwhile, the TAB has released the odds for the semifinal in Sydney on Saturday night.
The Waratahs are the favourites at $1.57 while the Highlanders are paying $2.30.
The Hurricanes are the favourites in the other semifinal, paying $1.30 while the Brumbies are at $3.30.
The Hurricanes are fancied to win the whole competition, returning $1.90, the Waratahs are at $3.75 and the Highlanders are at $4.25.
The Brumbies are a long shot to win it all, paying $9.