Over the last few years, the Bank of Ghana (BoG) has cracked the whip at the banking industry in a bid to restore sanity in the industry. In August 2017, the UT and Capital Banks were liquidated for failing to meet the BoGs minimum capital ratio. The operations of UniBank, Royal Bank, Beige Bank, Sovereign Bank, and Construction Bank ended. In their place the BoG announced a new bank called the Consolidated Bank, as part of measures to ensure the banking sector maintains a strong indigenous presence. The BoGs statement on closure of the banks said an Asset Quality Review (AQR) of banks conducted in 2015 and 2016 found that some indigenous banks had inadequate capital, high levels of non-performing loans, and weak corporate governance which compelled BoG to crack the whip. The primary cause of bank failure is credit risk. Discuss