Is Renmoney Approved by CBN?

Yes, Renmoney is approved by the Central Bank of Nigeria (CBN). It is a licensed MFB; it operates under the regulations and guidelines set by the CBN.

Renmoney Loan

Renmoney is indeed approved by the Central Bank of Nigeria (CBN). It operates as a licensed microfinance bank that helping the company to provide various financial services, including personal and business loans, savings, and investment products. It's important to mention that CBN is officially listings Renmoney as a recognized and legitimate financial institution in Nigeria.

Of course, all deposits made on the Renmoney App are insured by the NDIC. In other words, Renmoney is approved and regulated by the CBN, all deposits are also insured by the Nigeria Deposit Insurance Corporation (NDIC). This insurance provides a level of protection for customers' funds to upto N500,000; this helps ensure that your investments are safe and secure.

Is Renmoney Legit?

Yes, Renmoney is a Legit fintech platform in Nigeria. The CBN is officially listings Renmoney as a recognized and legitimate financial institution in Nigeria on it official website.

When the company emphasized how secure is your investment with app, they explained that "your investment is secure with Renmoney. We are regulated by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC)."

Since its founding in 2012, Renmoney has issued a substantial amount of loans, amounting to ₦132 billion, and has gained the trust of over 101,000 customers, which reflects its reputation in the financial services sector.

About the author

Founded Mainwave Digital Media, Temmy Samuel is a financial advisor and journalist, blending financial expertise with storytelling skills to simplify complex financial topics for readers and clients alike. Learn More About Temmy Samuel

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