Nigeria wants to launch the first virtual free zone in West Africa. Executives are in discussions with the cryptocurrency platform Binance Holdings Ltd to establish a virtual free zone.

In a statement published on Saturday, September 3, the Nigeria Export Processing Zones Authority (NEPZA) informs that discussions concern a tripartite partnership currently being negotiated between NEPZA, Binance Holdings and the tech hub Talent City, to establish what could be West Africa's first virtual free zone in Nigeria. Based on the Dubai virtual free zone model, this economic zone, whose details have not been revealed, will aim to allow the continent's largest economy in terms of GDP to take advantage of the opportunities offered by innovations in the digital economy sector.