Martin Etonge BBC Sport, Yaounde

Schaefer says he will not sign for Egypt

"I have no contacts with people in Egypt," Schaefer told the BBC.

"I am in Cameroon where I have all my contacts and I am happy to be coach in Cameroon.

"This is pure speculation from Egypt.

"It is very frustrating to hear these kind of lies coming from Egypt."

Earlier, speculation had been mounting that Schaefer would quit Cameroon to take over the Pharoahs.

The Egyptian FA said it has proposed an offer to the former Cameroon coach, which he had accepted verbally.

According to reports, Schaefer would have received US$35,000 monthly if he signed the deal to become the successor to Mohsen Salah.

Salah resigned after the Nations Cup.

Egypt failed to cross the group stages at the tournament in Tunisia, which was won by the hosts.

However, Schaefer has a contract with the Cameroonian Football Federation until 2006, and he says he intends to honour it.