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Canada Bans Nigerians, Other Foreigners From Buying Homes

Published

1 year ago

April 7, 2022

NewTimes

Canada Bans Nigerians, Other Foreigners From Buying Homes

Amid the rise of prices of real estate properties in Canada, the North American country is set to ban Nigerians and other foreigners from buying homes for two years.

The move is aimed at helping the country provide billions of dollars to spur construction activity in an attempt to cool off a surging real-estate market, Bloomberg reported on Thursday.

According to the international news platform, the ban would be contained in Finance Minister Chrystia Freeland’s budget today, according to a person familiar with the matter who asked not to be named because the matter is private.

However, the foreign-buyer ban won’t apply to students, foreign workers or foreign citizens who are permanent residents of Canada, the source said.

The move signals that Prime Minister Justin Trudeau is becoming more assertive about taming one of the developed world’s most expensive housing markets — and that the government is growing more concerned about the political backlash to inflation and the rising cost of housing.

READ ALSO: Canada Bans Travellers From Nigeria Over Omicron Variant Of COVID-19

Home prices in Canada have soared more than 50% over the past two years. The market saw a record monthly increase in February as buyers acted ahead of rate increases by the Bank of Canada, taking the benchmark price of a home to C$869,300 ($693,000).

Canada, one of the top destinations of Nigerians, has witnessed an upsurge of global immigrants of late including Nigerians in their 20s and 30s who relocated after the #EndSARS protests in October 2020.

The Canadian Government had also said it targets receiving 1.2 million immigrants from 2021 to 2023 in order to make up for a shortfall caused by the COVID-19 pandemic.

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BREAKING: Kaduna Guber Tribunal Nullifies Election Of Governor Uba Sani

Published

2 mins ago

September 28, 2023

NewTimes

Kaduna State Governor UBA Sani

The governorship election petition tribunal sitting in Kaduna on Thursday declared the election of Uba Sani of the All Progressives Congress (APC) as inconclusive and thus nullified the exercise.

The tribunal made the declaration while delivering judgement via Zoom in a petition by the Peoples Democratic Party (PDP) and its candidate, Isah Ashiru, challenging the election of Sani in the March 2023, election.

The tribunal ordered that fresh election be conducted in seven wards in four LGAs of the state.

Latest News

In Shakeup Of FCT Administration, Wike Sacks Agencies, Parastatals Heads

Published

9 hours ago

September 28, 2023

NewTimes

BREAKING: Wike Dares Ayu To Stop Elections Of Ortom, Others

Federal Capital Territory Minister Nysom Wike

In a decisive shakeup of the administration of the Federal Capital Territory (FCT), its Minister Nyesom Wike, has sacked the heads of 21 parastatals, agencies, and government companies.

This was disclosed in a statement by the Director of Press, Office of the Minister, Anthony Ogunleye, in Abuja on Wednesday.

Ogunleye identified the affected heads of the agencies as follows:

1. Group Managing Director and Chief Executive Officer, Abuja Investment Company Ltd

2. CEO/Managing Director, Abuja Markets Management Ltd

3. MD/CEO, Abuja Urban Mass Transport Company

4. CEO/MD, Abuja Property Development Company

5. CEO/MD, Abuja Technology Village Free Trade Zone Company

6. CEO/MD, Abuja Film Village International

7. CEO/MD, Powernoth AICL Equipment Leasing Company Ltd

8. MD, Abuja Broadcasting Corporation

9. MD, Abuja Enterprise Agency

10. General Manager, FCT Water Board

11. Director-General, FCT Emergency Management Agency

12. Executive Secretary, FCT Primary Healthcare Board

13. DG, Hospital Management Board

14. Director, Abuja Environmental Protection Board

15. Director, FCT Scholarship Board

16. Director, FCT Christian Pilgrims Welfare Board

17. Director, Muslim Pilgrims Welfare Board

18. Coordinator, Abuja Infrastructure Investment Center

19. Director, FCT Health Insurance Scheme

20. Coordinator, Satellite Towns Development Department

21. Coordinator, Abuja Metropolitan Management Council

The director of the press said that the affected appointees should hand over the affairs of their offices to the most senior officers in rank.

He added that appointments in the offices would be made in due course.

Latest News

Abiodun Urges Prayer For Nigeria At Eid-El Maulud

Published

21 hours ago

September 27, 2023

NewTimes

Ogun State Governor Dapo Abiodun

Governor Dapo Abiodun of Ogun State, has urged Muslims across the country to offer prayers for the peace and prosperity of Nigeria on the occasion of Eid-El Maulud.

In a statement issued by his Chief Press Secretary, Lekan Adeniran, the Governor emphasized the need for Nigerians to come together and pray for the country’s progress, unity and development.

Governor Abiodun also called on Muslims to emulate the virtues of Prophet Muhammad (SAW), which include love, tolerance, peace, and humility.

He urged Muslims to use the occasion of Eid-El Maulud to reflect on the teachings of the Prophet and strive to live a life of righteousness and selflessness.

The Governor expressed his commitment to providing good and effective governance to the people of Ogun State as he called on Muslims to continue to support his administration and pray for its success.

Eid-ElMaulud is a Muslim holiday that commemorates the birth of Prophet Muhammad (SAW). It is celebrated with prayers, fasting, feasting, and acts of charity and generosity.