In August 2017, UT Bank Ltd and Capital Bank’s take-over by GCB Bank, heralded the beginning of the infamous Ghanaian banking crisis. This was followed by further insolvencies in the banking and financial sector. One of the major reasons cited for the collapse of these banks and savings and loans companies was poor corporate governance. Since then, the BOG has been focused on ensuring that its regulated entities prioritize and implement proper corporate governance policies and practices.