regulatory lapses the central bank of ghana is the chief regulator of ghana's banking system. the prescribe the legal and regulatory framework for the financial sector of the country. in its press release statement, bog stated that all these responsibilities quoted above, falls within the regulatory and supervisory role of the central bank of ghana.under any circumstance, the regulator is solely responsible for reading the proactive constructs of the provisions made within the laws to protect activities within the sector, in other to prevent situations of dire consequences.