For thousands of Nigerians chasing the dream of a better life abroad, the term “Japa” has become more than just slang.
It represents the collective desire to escape economic hardship, insecurity, and limited opportunities.
But for those targeting Canada as their destination, the journey just became more financially demanding.
Canada’s immigration authority, Immigration Refugees and Citizenship Canada (IRCC), has announced a new update to its Express Entry system, increasing the minimum proof of funds required for skilled immigrants.
This change, which takes effect from July 7 2025, means applicants must now show they have access to a higher amount of money to qualify for permanent residency.
According to the updated guidelines, a single applicant must now demonstrate access to at least 15,263 Canadian dollars, which is roughly 17 million naira.
For a family of two, the required amount has risen to 19,001 Canadian dollars or approximately 21.2 million naira. The funds are expected to cover the applicant’s basic living expenses upon arrival in Canada and are reviewed annually based on the country’s low income cut off figures provided by Statistics Canada.
Applicants must provide official letters from financial institutions where they hold accounts.
The letters must be printed on the bank’s letterhead, listing all balances and confirming the funds are readily available.
According to Canada.ca, webiste, “You need a bank letter as proof, which must be obtained from any banks or financial institutions where you hold an account.
“The letter should be printed on the financial institution’s official letterhead and must include their contact information, such as address, telephone number, and email address, as well as your name and any outstanding debts like credit card balances or loans.
“It should also provide details for each current banking and investment account you have with them, including the account numbers, the date each account was opened, the current balances, and the average balance over the past six months,” it reads.
However, If an applicant is applying with a spouse, money in joint accounts can be combined to meet the requirement. It is important to note that borrowed money does not qualify as proof of funds.
Candidates who are already in the Express Entry pool must update their profiles by July 28 2025 to reflect the new financial threshold.
What This Means for Nigerians
This development has serious implications for Nigerian applicants.
First, it presents a higher financial barrier. For many Nigerians struggling with currency devaluation and inflation, saving up to 17 million naira is an enormous challenge. This requirement may delay or entirely shut out many otherwise qualified individuals who lack access to such funds.
Second, there will likely be increased competition among those who can meet the financial requirements. With fewer people able to afford the process, those remaining in the pool may face stiffer rivalry for limited invitations.
Third, migration strategies may shift. More Nigerians might consider alternative paths such as studying in Canada first, securing job offers before applying, or looking to other destinations like the United Kingdom or Australia where requirements might be more attainable.
Lastly, this change puts additional pressure on Nigeria’s middle class. The average skilled worker now has to weigh the benefits of relocating against the rising costs of migration. It is no longer just about fleeing hardship but about carefully planning and saving with a long term view.
