Japa now complicated as Canada increases minimum proof of funds to N17m

The japa route for Nigerian and other foreign prospective immigrants looking to the Canadian Express Entry system has been made more stringent, as Immigration, Refugees and Citizenship Canada (IRCC) announced an increase in the minimum amount of funds required to qualify.

The new guidelines issued by the IRCC, which took effect on July 7, 2025, specify that a single applicant must now demonstrate access to at least CAD 15,263 (approximately N17 million), up from the previous requirement of CAD 14,690.

On the other hand, a family of two will now be required to show a minimum of $19,001 (N21.2m).

The new financial threshold is part of Immigration Canada's annual review of settlement fund requirements, based on 50% of the low-income cut-off totals determined by Statistics Canada.

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The funds are essential to prove that applicants can bear their own financial burden and that of their families after arrival in Canada.

The requirements also stated that applicants must provide official letters from financial institutions where they hold accounts, printed on the bank’s letterhead. Spousal applicants are allowed to present funds held in joint accounts that can be combined.

Candidates are required to update their proof of funds in their profile by July 28, 2025, to remain eligible in the Express Entry pool.

The proof of funds forms a critical component of both the Federal Skilled Worker Program and the Federal Skilled Trades Program.

However, it's not required if the applicant applied under the Canadian Experience Class, or if they are already authorised to work in Canada and hold a valid job offer—even under the other Express Entry streams.

Though completing an Express Entry profile is the first step, that does not guarantee permanent residency.

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Approximately every two weeks, the IRCC invites top-ranking candidates from the pool, using the Comprehensive Ranking System (CRS) to score and rank submissions.