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FAQS
Your Questions, Answered
Find quick answers to the most common questions about Lightway MFB’s services, products, and features. Everything you need to know, right at your fingertips.
Lightway Microfinance Bank (MFB) is a fully digital microfinance bank in Nigeria, designed to provide seamless banking services with competitive interest rates, zero hidden fees, and top-notch customer support.
Yes, Lightway MFB is fully licensed by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC).
Unlike traditional banks, Lightway MFB is digital and physical. We offer fast transactions, better interest rates, and an easy-to-use app with round-the-clock customer support.
Yes, you can find our address on the contact us page.
Opening an account is simple:
- Download the Lightway MFB app from the Google Play Store or Apple App Store.
- Alternatively, login on lightwaymfb.com to create an account online.
- Sign up with your phone number, BVN, and valid ID.
- Complete the KYC (Know Your Customer) verification process.
- Start banking immediately!
- A valid Nigerian phone number
- Bank Verification Number (BVN)
- A valid ID (NIN, Driver’s License, Voter’s Card, or International Passport)
- A selfie for identity verification
No account opening fee! We have no hidden charges.
You can fund your account through:
- Bank transfers from any Nigerian bank
- USSD transfers
- Mobile money agents
Your account limit depends on your verification level:
- Basic Level: ₦50,000 max daily transactions
- Tier 2: ₦200,000 max daily transactions (requires full KYC verification)
- Tier 3: Unlimited transactions (requires additional verification)
Yes! You can use your Lightway debit card to withdraw from any ATM nationwide.