Stir in the sugar until it completely dissolves and let it simmer for 2 minutes.
Add the bananas and simmer for another 15-20 minutes, stirring occasionally, until the sauce begins to thicken. Taste it to determine if more brown sugar is required, and add as necessary.
Next, mix in the vanilla extract and lemon peel and continue cooking while stirring for an additional minute.
When the bananas have cooked through, turn off the heat and allow the mixture to cool. Transfer it to a serving plate and savor the flavors!