Japa: Canada Increases Minimum Proof of Funds to N17 Million for Immigrants
In a major development that could impact many Nigerians planning to relocate, Canada has announced an increase in the minimum proof of funds required for immigrants applying through its Express Entry system. As part of the new policy update, prospective immigrants must now show a minimum of CAD $14,690, which translates to approximately N17 million, depending on prevailing exchange rates.
The updated financial requirement, which took effect in July 2025, applies specifically to applicants under the Federal Skilled Worker Program (FSWP) and the Federal Skilled Trades Program (FSTP), two of the most popular immigration streams among Nigerians seeking to “japa” (emigrate in search of better opportunities).
According to Immigration, Refugees and Citizenship Canada (IRCC), the revised amount reflects updated cost-of-living standards and is aimed at ensuring newcomers have sufficient financial resources to settle in the country without relying on public funds. The amount increases based on the number of family members an applicant plans to bring along.
For a single applicant, the required proof of funds now stands at CAD $14,690 (approx. N17 million), while a family of four must show over CAD $27,000 (roughly N31 million). This move has sparked mixed reactions among aspiring immigrants in Nigeria, many of whom see it as a fresh hurdle in an already demanding process.
With the naira still under pressure against major currencies like the U.S. dollar and Canadian dollar, the increase poses a significant financial strain on middle-class applicants, particularly students and young professionals looking to escape Nigeria’s economic challenges and security concerns.
However, IRCC clarified that applicants with valid Canadian job offers, or those already residing in Canada under a work or study permit, are exempt from the proof of funds requirement.
As the “japa” wave continues to rise, immigration experts are advising potential applicants to reassess their timelines, start saving early, and explore alternative pathways, such as provincial nominee programs or study routes, which may offer more flexible financial expectations.
This update signals Canada’s evolving immigration policies and highlights the need for Nigerians to remain informed, financially prepared, and strategically positioned in their relocation plans.
