Veteran journalist and former presidential aspirant, Dele Momodu, has officially left the Peoples Democratic Party, attributing his departure to what he called the party’s takeover by “antidemocratic forces.”

In a letter dated July 17, 2025, addressed to the Chairman of PDP Ward 4 in Ihievbe, Owan East Local Government Area of Edo State, Momodu confirmed that his resignation takes “immediate effect,” describing it as a move to preserve democratic values.

“My reason is simple and straightforward. Our party has been unarguably hijacked by antidemocratic forces, from within and outside, in broad daylight,” the letter stated.

He referred to the PDP as a “carcass” now controlled by those undermining internal democracy, adding that leaving the party at this time was the honourable course of action.

“It is, therefore, honourable to abandon the carcass of the party to them while the majority of us earnestly sign up with the new coalition party known as the African Democratic Congress,” he said.

Momodu, who vied for the PDP presidential ticket in the 2023 elections, also thanked party members for their support.

“I will forever treasure the kind support you gave me at all times,” he added.

This development comes amid growing defections within the PDP in recent months, with several members and leaders raising concerns over imposition and the erosion of internal democracy.

Guaranty Trust Holding Company has achieved a strong mid-market showing during the July 16, 2025, trading session, surpassing the N100 milestone.

This makes GTCO the first banking stock listed under the NGX Banking Index to cross the N100 benchmark, while Stanbic IBTC Holdings remained just below at N99.

The upward movement aligns with the broader positive sentiment in the banking sector, where the NGX Banking Index has gained over 22% so far in July.

The development follows GTCO’s recent dual listing, which involved 2.29 billion ordinary shares being listed on the London Stock Exchange on July 9, 2025, and another 2.28 billion shares added to the Nigerian Exchange the next day.

The stock’s rise appears driven by investor response to its cross-border listing and its strong Q1 2024 financial performance. Month-to-date, GTCO has posted a gain exceeding 27%.

The presidential flagbearer of the Peoples Democratic Party in the 2023 general elections, Alhaji Atiku Abubakar, has officially withdrawn his membership from the opposition party.

Atiku submitted his resignation ahead of the 2027 general elections, following confirmation of his involvement in forming a new coalition known as the Alliance Democratic Congress.

The resignation was contained in a letter dated Monday, July 14, 2025, and addressed to the chairman of the PDP in Jada 1 ward, Jada Local Government Area, Adamawa State.

A copy of the letter was shared on X by the Special Assistant on Media to the former Vice President on Wednesday.

The letter stated, “I am writing to formally resign my membership from the People’s Democratic Party (PDP) with immediate effect.

“I would like to take this opportunity to express my profound gratitude for the opportunities I have been given by the party.

“Serving two full terms as Vice President of Nigeria and being a presidential candidate twice has been one of the most significant chapters of my life.

“As a founding father of this esteemed party, it is indeed heartbreaking for me to make this decision.

“However, I find it necessary to part ways due to the current trajectory the party has taken, which I believe diverges from the foundational principles we stood for. It is with a heavy heart that I resign, recognising the irreconcilable differences that have emerged.

“I wish the party and its leadership all the best in the future. Thank you once again for the opportunities and support.”

More to come…