The government of Canada has increased the proof of funds for Nigerians and other international students from ₦8,025,000.00 ($10,000) to ₦16,050,000.0000 ($20,000).
Marc Miller, Minister of Immigration for Canada Refugees and Citizenship, made this announcement in a statement on Thursday, saying the new requirement will take effect from January 1, 2024.
“Starting January 1, 2024, the cost-of-living financial requirement for study permit applicants will be raised so that international students are financially prepared for life in Canada.
For 2024, a single applicant will need to show they have $20,635, representing 75% of“This change will apply to new study permit applications received on or after January 1, 2024,” the statement reads in part. LICO, in addition to their first year of tuition and travel costs.
For close to two decades, study permit applicants for international students have remained at $10,000.
This review, which takes effect from January 1, “will help prevent student vulnerability and exploitation,” the statement added.
This proof of funds review comes days after the United Kingdom introduced a new set of rules that would make it more difficult for Nigerians and others to obtain a visa.
Home Secretary James Cleverly announced the changes in the House of Commons on Monday.
