Nigeria Plans to Create a Virtual Free Zone With Binance

The Nigerian Export Processing Zones Authority (NEPZA) is in discussions with crypto exchange Binance over plans to create a virtual free zone focusing on blockchain and the digital economy. NEPZA, which helps regulate and operate free zones in the country, wants the result to be similar to Dubai's virtual free zone. "Our goal is to engender a flourishing virtual free zones to take advantage of a near trillion dollar virtual economy in blockchains and digital economy," Adesoji Adesugba, NEPZA's managing director, said in the statement.