The Canadian government, through Minister of Immigration, Refugees and Citizenship Marc Miller, has announced an increase in the proof of funds required for international students, including Nigerians, seeking study permits.
The new financial requirement has been raised from ₦8,025,000.00 ($10,000) to ₦16,050,000.00 ($20,000) and will take effect from January 1, 2024.
The statement outlines that a single applicant for 2024 must demonstrate having $20,635, representing 75% of the Low Income Cut-Off (LICO), in addition to their first year of tuition and travel costs. This adjustment, the government asserts, aims to prevent student vulnerability and exploitation.
The announcement comes in the wake of the United Kingdom’s introduction of stricter visa rules and salary requirements for foreign workers.
