The Canadian Government has increased the proof of funds for Nigerian and other international students from $10,000 to $20,635.

The new adjustment will kick off from January 1, 2024.

The implication is that any Nigerian applicant must show he or she has $20,635 in addition to the first year of tuition fees and travel costs.

Marc Miller, Canadian Minister of Immigration, Refugees and Citizenship, made this announcement in a statement on Thursday.

The new requirement takes effect from January 1, 2024.

The statement reads in part: “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 LICO, in addition to their first year of tuition and travel costs.

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“This change will apply to new study permit applications received on or after January 1, 2024. This review, which takes effect from January 1, will help prevent student vulnerability and exploitation.”

For almost 20 years, proof of funds for international students was put at $10,000.

The adjustment from Canada is coming a few days after the United Kingdom announced stricter visa measures.

The restrictions are ways of cutting migration.

The Star