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Canada Bans Foreigners From Buying Homes

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Prime Minister, Justin Trudeau
Prime Minister, Justin Trudeau
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A ban on foreigners buying residential property in Canada took effect on Sunday, aiming to make more homes available to locals facing a housing crunch in the country.

Several exceptions in the act allow individuals such as refugees and permanent residents who are not citizens to buy homes.

In late December, Ottawa also clarified that the ban would apply only to city dwellings and not to recreational properties such as summer cottages.

The temporary two-year measure was proposed by Prime Minister, Justin Trudeau, during the 2021 election campaign when soaring prices put home ownership beyond the reach of many Canadians.

“The desirability of Canadian homes is attracting profiteers, wealthy corporations, and foreign investors.

“This is leading to a real problem of underused and vacant housing, rampant speculation, and skyrocketing prices. Homes are for people, not investors,” his Liberal Party said in its election plank at the time.

Following their 2021 election victory, the Liberals quietly introduced the Prohibition on the Purchase of Residential Property by Non-Canadians Act.

Major markets such as Vancouver and Toronto have also introduced taxes on non-residents and empty homes.

Despite a recent heyday, the country’s real estate market has cooled for sellers as mortgage rates followed the Bank of Canada’s aggressive monetary policy in a bid to rein in inflation.

According to the Canadian Real Estate Association, average home prices have fallen from a peak of more than Can$800,000 (US$590,000) at the start of 2022 to just over Can$630,000 (US$465,000) last month.

Many experts have also said the ban on foreign buyers – who accounted for less than five percent of home ownership in Canada, according to the national statistical agency – would not have the desired effect of making homes more affordable.

Rather they point to a need for more housing construction to meet demand.

The Canada Mortgage and Housing Corporation – the national housing agency – said in a June report that close to 19 million housing units will be needed by 2030.

That means 5.8 million new homes must be built, or 3.5 million more than are currently anticipated to be built to meet that demand, it said.

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International

Finnish Court Jails Simon Ekpa Six Years for Terrorism

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Simon Ekpa
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A Finnish court on Monday sentenced Nigerian-born Finnish politician Simon Ekpa to six years in prison for terrorism-related offences.

The Päijät-Häme District Court found the 40-year-old former Lahti municipal councillor guilty of participating in a terrorist organisation, incitement to commit crimes for terrorist purposes, aggravated tax fraud, and violations of the Lawyers Act.

Prosecutors said that between 2021 and 2024, Ekpa promoted the independence of the so-called Biafra region in Nigeria through illegal means, using social media to influence followers and support armed groups the court classified as terrorist organisations.

The court ruled that Ekpa provided weapons and explosives through his contacts and urged his supporters on X, formerly Twitter, to commit crimes in Nigeria. He denied all charges.

Ekpa was arrested in December 2024 and tried over 12 sessions earlier this year. A three-judge panel delivered the unanimous verdict, ordering him to remain in custody.

 

 

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In Brazil, Tinubu Calls for Innovation-Driven Transformation in Nigeria

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President Bola Tinubu
President Bola Ahmed Tinubu
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President Bola Tinubu has reaffirmed his administration’s commitment to positioning Nigeria as a leader in Africa’s development, with a focus on technology, food security, and innovation.

Speaking to Nigerians in Brazil on Wednesday, Tinubu described his visit as a strategic step to deepen bilateral ties and learn from the South American country’s rapid development.

“Once upon a time, Nigeria and Brazil stood on the same level. Look at Brazil today — its technology, its food systems. We must ask ourselves: what do they have that we don’t? We have the brains, the energy, and the youth. We have everything we need. Now, we must act,” he said.

The President stressed that his government is laying the foundation for partnerships in manufacturing, technology, and cultural exchange, with the goal of unlocking Nigeria’s potential.

Acknowledging the difficulties citizens face due to ongoing economic reforms, Tinubu insisted that the measures are necessary for long-term prosperity.

“Yes, the reforms are tough — like bitter medicine. But once the fever is gone, you know the cure was worth it,” he said.

He commended the Nigerian diaspora community in Brazil, urging them to see themselves as critical stakeholders in building a new Nigeria.

“You are the pride of our nation. Your diversity, your commitment — it reflects the Nigeria we are working to build. I salute you all,” Tinubu stated.

The President further called for unity and resilience among Nigerians, adding that the dream of a prosperous nation must be pursued with urgency.

“If Wole Soyinka, at over 90, can still dream and act, then we have no excuse. The dream must be realised. The time is now,” he said.

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Tinubu Arrives in Brazil for Two-Day State Visit After U.S. Stopover

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President Bola Ahmed Tinubu stepping out from Airplane
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President Bola Tinubu has arrived in Brasília, Brazil, for a two-day state visit focused on deepening bilateral ties and securing new investments.

Tinubu, who flew in from Los Angeles after attending the Tokyo International Conference on African Development (TICAD9) in Japan, was received at the Brasília Air Base by senior Brazilian government officials, including Ambassador Carlos Sérgio Sobral Duarte, Secretary for Africa and the Middle East, and Carlos José Areias Moreno Garcete, Brazil’s Ambassador to Nigeria.

Nigeria’s Minister of State for Foreign Affairs, Bianca Ojukwu, also joined the reception. Other cabinet ministers, heads of key agencies, and private sector representatives later welcomed the president at his hotel.

The official welcoming ceremony, with full military honours, is scheduled for Monday at the Planalto Palace.

According to presidential aides, the visit will focus on activating multi-billion-dollar agricultural investments, advancing the $1.1 billion Green Imperative mechanisation project, and attracting fresh foreign direct investment in Nigeria’s agriculture and energy sectors.

Tinubu is also expected to participate in a Nigeria–Brazil business forum, bilateral meetings, and the signing of agreements and memoranda of understanding in technology, aviation, renewable energy, and climate resilience.

The presidency has not disclosed when the president is expected to return to Abuja.

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