The Togo star has been left out of his country's squad for a warm-up match against Oman, with several reports stating that unpaid bonuses are the reason behind his absence.
But Adebayor has denied claims he is holding out for payments and says he has opted not to play because he is still haunted by the gun attack on the Togo bus before the 2010 tournament in Angola.
"I am hearing people saying I do not want to go to the African Nations Cup because of unpaid bonuses. I do not need a bonus from Togo - it is £1,000 per game," he told The Sun.
"I would not refuse to play for my country over money. It is all about the organisation - or lack of it. I was on the bus in Angola when people died in front of me. I held them as they died.
"Even the government do not want to pay for the treatment for the people who survived. It is not right."
Adebayor initially retired from international football following the attack, which killed three people, but he returned in 2011 before his latest change of heart.
The 28-year-old added: "I had to leave a team bus wearing a bullet-proof vest and a bullet-proof helmet. People wanted me dead. I was told I was the target.
"I retired from international football but people asked me to come back and use my experience - so I agreed. I kept telling the FA to get organised but they have not listened. I am glad we qualified again but I cannot risk everything."