Cream sugar and margarine at medium speed of a mixer until fluffy (about 3 minutes). Add banana, vanilla, and egg; beat well. Combine flour, baking soda, and nutmeg; stir. Add to creamed mixture, beating well. Stir in granola.
Drop the dough by level tablespoons onto baking sheets coated with cooking spray. Bake at 325° for 12 minutes or until lightly browned; let cool on pans 1 minute. Remove from pans, and let cool completely on wire racks.