NEPZA, Binance to develop virtual free trade zone in Nigeria

By Maryam Suleiman, Abuja

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In its drive to further deepen the country’s economy, the Nigeria Export Processing Zones Authority (NEPZA) is seeking partnership with Binance and Talent City for Nigeria to develop the first Virtual Free Zone in West Africa.

NEPZA’s Managing Director Mr. Adesoji Adesugba gave the hint in Dubai, after holding meetings with officials of the two firms.

pAdesugba, also Chief Executive Officer of the Authority, explained that the partnership when agreed would be similar to the Dubai Virtual Free Zone.

The NEPZA boss presented the vision of his management which centres on expanding frontiers of innovations in the operations and management of free zones in Nigeria and Africa as a whole.

“We seek to break new grounds to widen economic opportunities for our citizens in line with the mandate of the Authority, the directive of the Honourable Minister and the economic development agenda of President Muhammadu Buhari.

“Our goal is to engender a flourishing virtual free zone to take advantage of a near trillion dollar virtual economy in blockchains and digital economy,” Adesugba said.

Binance, a global digital blockchain finance services firm, was represented at the parley by Nadeem Ladki, its Executive Director, Regional Strategic Partnerships and Sameera Kimatrai, Binance Senior Legal Counsel.

Also in attendance were Luqman Edu, Chief Executive of Talent City and Engr. Sikiru Lawal, NEPZA’s Director of Projects & Procurement.








Hauwa Abu

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