Immigration, Refugees and Citizenship Canada (IRCC) has announced a review of settlement fund requirements for immigrants, pegging the minimum proof of funds at CAD $15,262, equivalent to N17.1 million.
The latest review was different from the previous minimum requirement of CAD $14,690. The family of two are now expected to meet the new threshold of CAD $19,001 equivalent to over N21.2 million.
This development, effective 7th July, 2025, was part of the IRCC’s annual review of settlement fund requirements, based on 50% of the low-income cut-off totals determined by Statistics Canada.
The funds were meant to indicate that applicants demonstrated capacity to support themselves—and their families—after getting to Canada.
Proof of funds represents a critical requirement under both the Federal Skilled Worker Programme and the Federal Skilled Trades Programme.
Meanwhile, Dubai authorities on Tuesday imposed a new set of visa restrictions on Nigerians, stating that intending tourists between 18 and 45 years can no longer visit the Emirati city alone unless accompanied.
The new restrictions came months after President Bola Tinubu’s government announced that Sheikh Mohamed bin Zayed Al Nahyan, the president of the United Arab Emirates, accepted Mr Tinubu’s invitation to visit Nigeria this year.
