@dougaitken, after toggling “manage your business” option authentication was successful. Thank you.
However, I agree with @colmtroy – this option should be market as required and some explanation is needed, as in case of business accounts with multiple clients, permission to “manage your business” is quite a lot to ask.
@dougaitken, thanks for the feedback. I will check that later, as I will have to create a separate facebook business account – the one I originally wanted to use is linked with several other, non related Facebook profiles.
Also, same as @colmtroy, I am also eger to know why “manage your business” permission is necessary.