Main sponsors of the project are the Federal Ministry of Science and Technology through the Nigeria Information Technology Development Agency (NITDA) and global technology giants, Microsoft and Intel. Other private sector participants include the Original Equipment Manufacturers (OEMs), Internet Service Providers (ISPs) and five banks of which Fidelity Bank is a part.

The Fidelity/CANi is designed essentially to empower interested Nigerians to easily acquire computers (desk-tops or Laptops). The systems are restricted strictly to local brands such as Omatek, Brain, Zinox, etc) and the Foreign brands such as HP and IBM. Depending on the specifications required, prices for these systems range from N50,500 (local desktops) to N200,000 top of the range laptops with original Microsoft software license. Additional accessories such as original Anti-virus are provided at an extra cost of N4,500.

Who are our target markets? They include the following:

Category 1 – Organisations:

Employees of structured organizations in both private and public sector:

i. Private Sector: Banking, Oil, Insurance, Telecoms, Aviation, Consulting, etc and any other structured private sector organization as may be approved from time to time by Fidelity and the PMO.

ii. Public Sector: Ministries, Parastatals and Government Agencies.

Category 2 – Individuals:

Individual participants with verifiable sources of income falling within minimum acceptable risk criteria.

Category 3 – Schools:

Schools are the only bodies allowed by the CANi program to participate at the organizational level.

What do I need to qualify for the scheme?

For individual participants, the following are essential:

1. Opening of a current account with Fidelity Bank, preferably a salary account.
2. A letter of application.
3. Evidence that applicant has been engaged by the organisation for a minimum of 6 months.
4. 6-month statement of account with Fidelity Bank or any other bank where account is domiciled.
5. Applicant would provide 20% of the value of the asset as equity contribution.
6. Applicant will provide either a standing order for accounts maintained in Fidelity Bank or issue post-dated cheques representing value for each monthly deduction/rental in favour of the bank.

7. Corporate guarantee of the applicant's organisation. (this is stated on the application form)

For corporate organisations which are acquiring on behalf of their staff, the following must also be provided:

1. Opening of a corporate account.
2. Evidence to show that the organisation has been in operation for the last 1 year.
3. Company/Organisation must be approved by the bank.
4. Issuance of 20% equity contribution.
5. An application letter.
6. Company/Organisation will provide either a standing order for accounts maintained in Fidelity Bank or issue post-dated cheques representing value for each monthly deduction/rental in favour of the bank.

The Tenor of the facility under the scheme ranges from 6 - 24 months, while individual applicants have a facility limit of N200,000.

Pricing arrangements are as follows:

For Individuals:

Interest rate: 16.5% p.a.;
Mgt. Fee: 0.8% flat/quarter;
Residual value: 2.5% of asset value payable on equally basis over the life of the facility or in full at the termination of the facility.

For Corporate organisations:

Interest rate: 14.5% p.a.;
Mgt. Fee: 1% flat/quarter;
Residual Value: 2.5% of asset value payable on equally basis over the life of the facility or in full at the termination of the facility.

Please note also that comprehensive insurance cover would be done through our subsidiary, FUSL, noting our interest in the asset.