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Canada hikes proof of funds for Nigerians

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By Abraham Adekunle

Students now need a $20,000 commitment to be eligible to study there.

Starting on January 1, 2024, international students, which include Nigerians, applying for study permits in Canada will be required to prove that they have a financial commitment of $20,000 to cover their cost of living. This is a significant increase from the previous requirement of $10,000 that was set by the Canadian Government. In a statement released on December 7, 2023, Marc Miller, the Minister of Immigration, Refugees and Citizenship for the country, revealed this information.

Beginning in 2024, an individual seeking an application must demonstrate possession of $20,635, equivalent to 75 percent of LICO, alongside their initial year’s tuition and travel expenses, as stated by him. He mentions that this modification will be applicable to fresh study permit applications received on or after January 1, 2024. From the onset of January 1, 2024, the financial criterion to meet the cost of living for individuals seeking study permits will be heightened to ensure international students possess adequate financial resources to adapt to life in Canada.

Current “japa” wave also showed in visa stats for the U.S.

The statement emphasized that the ongoing rate of $10,000 for study permit applicants from the past 20 years will undergo revision to be implemented starting on January 1. With regards to safeguarding students and avoiding any potential exploitation, this adjustment is deemed necessary. Nigeria, along with other applicants, will face greater challenges in obtaining a visa, as the United Kingdom has recently implemented stringent regulations. This occurrence follows shortly after the introduction of these new rules. On Monday, within the House of Commons, James Cleverly, the Home Secretary, declared the alterations.

Meanwhile, in a recent revelation, the United States Embassy in Nigeria shared that it has conducted interviews for an impressive 115,000 Nigerians this year, encompassing a diverse array of applicants, including 30,000 students. This is the consequence of the “japa” wave happening in the country. The head of the embassy, Mr. David Greene, made this disclosure during an interview with news correspondents in Abuja. Mr. Greene underscored the embassy’s unwavering commitment to addressing visa-related challenges and assured visa applicants that significant strides have been made to streamline the process. He acknowledged the persisting demand-supply disparity for visa appointments but emphasized the embassy’s proactive approach to bridge this gap.

Greene advises travelers to submit application early.

He said that while it is a simple fact that the demand for visa appointments outnumbers the supply, the embassy wants people to understand that they are actively working on this issue. “This year alone, we have conducted interviews for more than 115,000 Nigerians, including 30,000 students,” Mr. Greene stated during the interview. He shed light on the substantial progress made in overcoming challenges posed by the COVID-19 pandemic, stating, “We have made great progress though. In March, we instituted a five-year term for visas to the US.” This move is expected to facilitate a smoother and more efficient visa application process, benefiting a wide range of applicants.

Despite the improvements, Mr. Greene acknowledged the existing backlog and urged prospective travelers to the U.S. to submit their applications early. He advised applicants to align their visa requests with specific events and emphasized the embassy’s commitment to accommodating the needs of those seeking a warrant visa to the U.S. “Folks that are seeking visas should apply early, make sure that the plan is for an event as they can. This is because we do acknowledge that there is a backlog, and we will do what we can to make sure people that need a warrant visa to the U.S. can get them,” he stated.

U.S. embassy has adopted proactive measures to address issues.

Importantly, the proactive measures taken by the embassy and its steadfast commitment to addressing visa-related challenges are poised to significantly streamline the application process for millions of Nigerians seeking to travel to the United States. Amidst the escalating demand for U.S. visas, the embassy’s noteworthy initiatives, including conducting a record number of interviews and implementing policy changes, underscores its unwavering dedication to enhancing the efficiency and accessibility of visa services for applicants in Nigeria. These efforts are anticipated to have a positive impact on the overall visa application experience for a diverse range of individuals.

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2 months ago

Canada hikes proof of funds for Nigerians. – Students now need a $20,000 commitment to be eligible to study there. – Express your point of view.

2 months ago

For Nigerian students hoping to study in Canada, the proof of funding need has undoubtedly increased significantly. For some students, continuing their studies there may become more difficult as a result.

Adeoye Adegoke
2 months ago

That’s quite a significant increase! Requiring a $20,000 commitment for Nigerian students to study in Canada is definitely a big change. While it’s important to ensure that students have enough funds to support themselves during their studies, such a high financial requirement might pose challenges for many aspiring students.
Studying abroad can be a life-changing experience, providing opportunities for personal growth, cultural exchange, and academic advancement. It’s crucial to have accessible pathways for students to pursue their educational goals, regardless of their financial background.
Increasing the proof of funds requirement may limit the number of Nigerian students who can afford to study in Canada. This could potentially impact the diversity and global perspectives within Canadian universities, as well as hinder the educational aspirations of talented Nigerian students.
It’s important to strike a balance between ensuring financial stability for students and promoting inclusivity and accessibility in higher education. I hope that the Canadian government and educational institutions will continue to evaluate and consider the potential impact of these changes on aspiring Nigerian students.
Ultimately, the goal should be to create an environment that encourages international collaboration, fosters academic excellence, and provides equal opportunities for students from all backgrounds to pursue their dreams of studying abroad.

2 months ago

Nigerians’ proof of funds is increased by Canada. It now requires a $20,000 commitment from students in order for them to be admitted. Regardless of their financial situation, students must have easy access to pathways that allow them to accomplish their educational objectives.A higher proof of finances criterion would make it more difficult for Nigerian students to get financial aid to study in Canada.