Nigerian government It held an introductory meeting with crypto exchange Binance to create a special economic zone to support crypto and blockchain-related businesses.
followA post from the Nigerian Authority (NEPZA) said the agency had held preliminary talks with Binance and technology infrastructure company Talent City to discuss a digital city known as the “Virtual Free Zone.”
Adesoji Adesugba, managing director of NEPZA, said the proposed special area would be the first in West Africa. And it acts like Dubai’s virtual zones, designed to provide crypto-friendly laws, regulations, and tax incentives for crypto businesses.
Nigeria has the highest cryptocurrency adoption rate worldwide. with over 22 million crypto owners according to the informationof Triple A
Adesugba said the zone would help develop Nigeria’s digital economy and “Expand employment opportunities” for Nigerian citizens stating that:
“Our goal is to create a thriving virtual free zone to take advantage of the virtual economy. Nearly a trillion dollars in blockchain and the digital economy.”
Adesugba added, The move will be part of Nigeria’s economic development agenda. with a vision to continue to drive crypto adoption in the West Africa region.
A recent CoinGecko survey found that Nigerians are the most crypto-obsessed country, with searches for the term cryptocurrencies. “cryptocurrency” and “buy crypto” higher than 14 other countries surveyed
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