This paper investigates monetary policies and performance of the Nigerian Stock Market using quarterly data from 1985 to 2019. Monetary policies were proxied by money supply, interest rate, inflation rate and exchange rate while All Share Index was proxy for Stock Market’s performance. Secondary data were sourced from Central Bank of Nigeria Statistical Bulletin. The data are time series in nature; their unit roots and cointegration modeling tests were conducted, using Augmented Dickey- Fuller test (ADF) to identify the stationarity properties of the variables. Fully Modified Least Squares (FMOLS) of Phillips and Hansen (1990), Dynamic Least Squares (DOLS) of Stock and Watson (1993) and the Canonical Cointegrating Regression (CCR) were used to identify the long-run coefficients. The unit root tests result showed that there was the presence of cointegration among the variables. This implied that a longrun equilibrium relationship existed among the variables. The study recommends that the Nigerian Monetary Authorities should strengthen the exchange rate policy and always look beyond the short run. This will improve the performance of the stock market in Nigeria.

Keywords: All share index; money supply; interest rate; inflation rate; stock market performance.