Yes, Fairmoney is registered, licensed and approved by Central Bank of Nigeria (CBN) to operate as micro finance bank in the country. Precisely, Fairmoney is currently operating with a MFB License in Nigeria.
In addition to it approval with the CBN, the digital bank is also insured by Nigeria Deposit Insurance Company (NDIC). This simply means all money deposited on the Fairmoney bank account are insured in case anything happens to it.
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