The East African Community (EAC) has disputed the existence of a new regional currency after a sample of the note rocked the internet.

On Monday, March 4, the EAC Secretariat stated that adopting a single currency was still possible and that nothing has been achieved yet.

PHOTO | COURTESY the fake notes

“The EAC Secretariat wishes to inform all our stakeholders that the Partner States’ journey to a single currency is still a work in progress. Kindly ignore any rumours circulating in social media on the unveiling of new banknotes for the region,” the EAC said in a statement on X.

PHOTO | COURTESY the fake note

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The fuss around the currency started when a fake account, which had a grey checkmark indicating that it was a government or multinational institution, uploaded on Saturday an image of a 5 SHEAFRA note with the caption "The East African Sheafra of SHF.5 Currency Note of fuv5 has finally Landed."

The account stated that the currency would benefit the regional economy and that one SHEAFRA would be worth $0.76.