Canada Increases Express Entry Financial Requirement to ₦17 Million

Canada Increases Express Entry Financial Requirement to ₦17 Million

Canada has revised its Express Entry immigration criteria, increasing the minimum financial requirement for individuals applying under the Federal Skilled Worker and Federal Skilled Trades programs. Effective July 7, 2025, single applicants must now demonstrate access to at least CAD 15,263 (approximately ₦17 million), up from the previous threshold of CAD 14,690.

This update comes on the heels of recent U.S. visa policy changes, where most Nigerian applicants for non-immigrant visas will now be issued single-entry visas valid for only three months. According to U.S. authorities, the adjustment is part of a reciprocity measure in response to Nigeria’s visa policies toward American citizens.

Canada’s Immigration, Refugees and Citizenship Canada (IRCC) has advised that Express Entry profiles must be updated with the new proof of funds figures by July 28, 2025, to remain eligible. The required amount varies depending on family size—for instance, a two-person household must now show CAD 19,001 (around ₦21.2 million) in available funds.

Applicants must provide evidence that they have sufficient, legally accessible resources to support themselves and their dependents upon arrival in Canada. Acceptable documents include recent bank statements, official letters from financial institutions, or other verifiable proof of funds.

The IRCC emphasizes that borrowed money or property equity cannot be counted as part of the settlement funds. While funds held in joint accounts with a spouse are permitted, applicants must clearly demonstrate access if the money is not in their name.

In response to the new U.S. visa restrictions, Nigeria’s Ministry of Foreign Affairs has stated it did not implement any recent policy changes that could have prompted the action. The ministry suggested that the U.S. decision might be addressing long-standing visa imbalances and assured that it is reviewing the matter, with a formal statement to follow.

These recent developments highlight a tightening of immigration pathways in both Canada and the United States—key destinations for Nigerian migrants—and could particularly affect younger applicants and those within middle-income brackets.