Read today's newspaper headlines [Wednesday, August 17, 2016]

For today, August 17 2016:

THE GUARDIAN NEWSPAPER

Why OPEC members are cutting petroleum prices

The current practice by the Organisation of the Petroleum Exporting Countries (OPEC) members of cutting the prices of their crude oil goes beyond just retaining market share. READ MORE

Crisis over PDP national convention rages

Will the national convention of the Peoples Democratic Party (PDP) hold in Port Harcourt, Rivers State today? READ MORE

IGP enlists eminent persons to fight crime

The Inspector-General of Police (IGP), Idris Ibrahim, has inaugurated the Imo State branch of the eminent persons’ forum, consisting of monarchs, religious groups and others. READ MORE

THE VANGUARD NEWSPAPER

Budget padding: Reps head for court to seek interpretation of legislative powers

ABUJA— As the controversy over the alleged padding of the 2016 Federal Government budget rages, some current and former members of the House of representatives, yesterday, dropped hint of heading to court for judicial interpretation of the Legislative Houses’ Powers and Privileges Act. READ MORE

Trader arrested for naming pet dog ‘Buhari’

Sango-ota—A 30-year-old trader has been arrested by the police in Ogun state for naming his pet dog ‘Buhari.’ READ MORE

BDCs can now access $50,000 from Banks weekly – CBN

ABUJA—The Central Bank of Nigeria (CBN) has raised the amount of foreign exchange that Bureaux de Change (BDCs) can access from banks to $50, 000, per week. It was pegged at $30, 000,penultimate week. The decision to raise the bar was reached at the Bankers’ Committee Meeting in Abuja, yesterday.

THE PUNCH NEWSPAPER

PDP convention: We don’t know which judge to obey, says INEC

The leadership of the Independent National Electoral Commission on Tuesday was confused on whether to monitor or stay away from Wednesday’s (today) national convention of the Peoples Democratic Party in Port Harcourt, Rivers State. READ MORE

Again, Buhari orders NNPC to search for oil in North

For the second time in three weeks, the Nigerian National Petroleum Corporation has received an express order from President Muhammadu Buhari to explore for oil in the North.

My message not for everybody — Adeboye

Against the background of the criticisms that greeted one of his sermons at the yearly convention of the Redeem Christian Church of God, its General Overseer, Pastor Enoch Adeboye, has said his messages are not for everybody. READ MORE

THE NATION NEWSPAPER

CBN raises BDCs weekly dollar sales to $50,000

The Central Bank of Nigeria (CBN) yesterday increased banks’ weekly Diaspora-related foreign exchange (forex) sales to Bureaux De Change (BDCs) from $30,000 to $50,000.

Abused girl gets new family

A businesswoman, Ms Rita Nnenna Anoh of Veroz Group, has adopted Miss Uzoamaka Chukwu, the girl who was stripped and flogged by some residents of her hometown in Ebonyi State. READ MORE

Confusion over PDP Port Harcourt convention

There was confusion yesterday over the Peoples Democratic Party (PDP) convention slated for Port Harcourt, the Rivers State capital, today. READ MORE

THE BUSINESS DAY NEWSPAPER

NAICOM, CBN lock horns over bancassurance

The National Insurance Commission (NAICOM) and the Central Bank of Nigeria (CBN) are locked in a serious dispute over the right model for the implementation of bancassurance in Nigeria, BusinessDay can reveal.

Banks increase weekly FX sales to BDCs to $50,000

The Central Bank of Nigeria (CBN) and banks agreed on Tuesday to increase the amount weekly dollar sales from banks to Bureau De Change (BDC) operations from $30,000 to $50,000, in a new measure to spur liquidity and help the local currency.

How to revive Nigeria's troubled oil sector

Settling the backlog of over $6bn Joint Ventures (JV) cash flow arrears, addressing governance constrains, resolving contractual disputes and ensuring global competitive risk reflecting fiscal returns are urgent actions required to address Nigeria's beleaguered oil sector, experts say.