ROAD TO 2026: Stanbic bank fires minister Ogwang’s political rival

There is quiet excitement in the political camp of sports minister Peter Ogwang who doubles as Ngariam county Mp, in Katakwi district, eastern Uganda.

Insiders tell us that Ogwang and his camp members are quietly excited about the news of the firing of Peter Ochole, from Stanbic bank-Soroti branch.

We are told Ochole, who has been working as a personal banker, is among those who have been implicated by the bank’s audit systems in alleged mismanagement of Credit Reference Bureau (CRB) fees.

This is cash paid by loan applicants for credit report checks and financial card applications.

He was reportedly implicated alongside 2 other officials (names withheld for now) from the eastern region.

Other 20 officials from northern, western and central regions are also being probed.

But the CRB cash scandal at the bank is a story for another day, back to Ochole’s political woes.

According to sources, following the probe, Ochole who joined Stanbic bank in 2010 and has been a personal banker since 2015 (9years), was fired.

We are told Ochole has been building a war chest to contest for Ngariam County Mp in 2026, a move that has been giving minister Ogwang’s camp sleepless nights.

Colleagues in the Soroti branch whispered to us that Ochole started strategizing in 2022 to dislodge Ogwang.

We are told he has already spent about Sh400 million in mobilization, money he got as government compensation to his late grandfather’s estate where he is an administrator.

Furthermore, colleagues from Stanbic’s eastern region have already mobilized about Sh200 million for his 2026 Mp bid against Ogwang.

**Peter Ochole who has been fired by Stanbic bank**

However, watchers say his job woes at Stanbic may affect his election chances.

His hopes are now in his close pal Badru Chemusto, Stanbic’s eastern region sales manager, to convince top bosses to pardon him, having appealed the decision to fire him.

He also has backing of top management from the eastern regional office. He is hopeful his termination can be reversed.

We are told there is precedence in 2020 when staff that had been terminated over fraud cases appealed and succeeded.

Outgoing CEO, Anne Juuko was just 9 months in office and a section of staff reportedly criticized her for taking a soft stance against fraud culprits.

Ochole could not be reached for a comment by press time.

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