The user or administrator has not consented to use the application - Send an interactive authorization request for this user and resource

We're doing this CRM Web API project. The project logs-into Dynamics CRM online instance and gets the list of accounts.

The login seems to be happening fine. However, the accounts listing is giving the below error:

AADSTS65001: The user or administrator has not consented to use the application with ID 'xxxx-xxxxx-xxxx-xxx'. Send an interactive authorization request for this user and resource. Trace ID: e3b360d6-39fb-4e61-87d9-26531f30fd7b Correlation ID: 9b2cff0c-074e-44fe-a169-77c8061a7312 Timestamp: 2016-10-18 10:12:49Z

The permissions are properly set:

What is the problem?