Canada Doubles the Proof of Funds Required for International Students | 5 Things That Should Matter Today

  • Canada doubles the Proof of Funds required for International students
  • NIBSS bans unlicensed non-deposit banks from money transfer channels
  • Sanusi Lamido speaks against Tinubu becoming minister of petroleum
  • NNDP, PDP, SDP, and four other parties form a coalition against APC
  • IATA warns CBN of some foreign airlines blacklisting Nigerian markets

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss.

Canada doubles the Proof of Funds required for International students

On December 7, Immigrants, Refugee, and Citizenship Canada (IRCC) released a statement announcing its new rule concerning international students willing to travel to Canada for studies.

According to the statement, the Honourable Marc Miller, Minister of the IRCC, stated that effective from January 1, 2024, the cost of living financial requirement for study permit applicants would be increased from $10,000 to $20,635.

He claimed the fee had not changed from $10,000, which was set back in the 2000s.

NIBSS bans unlicensed non-deposit banks from money transfer channels

The Nigeria Interbank Settlement System Plc (NIBSS) has instructed that all unlicensed non-deposit banks be removed from the Nigerian bank’s platform.

According to the NIBSS, all Nigerian banks are to delink any non-deposit-taking financial institution, like switching companies and payment solution providers, from their NIP fund transfer channels (ATM, PoS, mobile banking apps, and USSD).

“Listing non-deposit-taking financial institutions such as switching companies (switches), Payment Solution Service Providers (PSSP), and Super Agents (SA) as beneficiary institutions on your NIP funds transfer channels contravenes the CBN Guidelines on Electronic Payment of Salaries, Pensions, Suppliers and Taxes in Nigeria dated February 2014.” the NIBSS warned.

The circular also stated that although these restricted platforms are prohibited from receiving inflows, they can process outflows to banks.

Sanusi Lamido speaks against Tinubu becoming minister of petroleum

Sanusi Lamido Sanusi, the ex-governor of CBN and the current grand Khalifa of the Tijaniyya group, has spoken against the president of Nigeria, doubling as the minister of petroleum.

Earlier on, president Tinubu appointed a minister of state petroleum but left the coveted position of minister of petroleum vacant, suggesting that he would fill the role himself.

The former governor of the Central Bank of Nigeria claimed that a proper audit of the Nigerian National Petroleum Company Limited (NNPCL) was necessary and, as such, was a similar move which ejected him from office.

NNDP, PDP, SDP, and four other parties form a coalition against APC

Seven political parties have come together to battle a common enemy—APC.

The seven political parties comprised the African Democratic Congress (ADC), Allied Peoples Movement (APM), New Nigeria People’s Party (NNPP), Peoples Democratic Party (PDP), Social Democratic Party (SDP), Young Progressives Party (YPP), and Zenith Labour Party (ZLP) have come together to form a coalition called “The Coalition of Concerned Political Parties (CCPP)” as they tackle the ruling power that is All Progressives Congress (APC).

Leaders of the seven parties were all present at a meeting at the National Secretariat of the SDP, where the coalition was officially established.

IATA warns CBN of some foreign airlines blacklisting Nigerian markets

The International Air Transport Authority (IATA) has warned the Central Bank of Nigeria (CBN) that it is likely for some foreign airlines to blacklist the Nigerian market if they are not paid the $792 million ticket held by the country.

The IATA Regional Vice President of Africa & Middle East, Kamil Alawadhi, shared this information at the IATA Global Media Day in Geneva, Switzerland. He stated that the Lagos and Abuja runways were ranked the most expensive in the West African region despite the poor infrastructure.

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