NEPZA seeks partnership with Binance on virtual free zone in W/Africa


By Aluta News

Sept 2, 2022

The Nigeria Export Processing Zones Authority (NEPZA) said it would partner Binance and Talent City to establish the first virtual free zone in West Africa.

Prof Adesoji Adesugba, NEPZA’s Managing Director, said this in a statement signed by Mr Martins Odey, Head, Corporate Communications, NEPZA.

According to the statement, Adesugba said the partnership was necessary after holding meetings with officials of the two firms on Friday in Dubai, United Arab Emirates.

Adesugba explained that the partnership when agreed would birth a virtual free zone similar to the one in Dubai.

The NEPZA boss presented the vision of his management, which centred 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.

The News Agency of Nigeria (NAN) reports that Binance is a global digital, blockchain finance services firm operating worldwide.

The company 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 and Procurement.