Naburgi, Musa MohammedMainoma, Mohammed Iliyasu2023-12-102023-12-102021-06-01Adrian T., & Shin H.S. (2009). Financial intermediation and monetary economics, 398 Staff Reports: Federal Reserve Bank of New York Athanasolglou P.P, Brissimis S.N. & Delis M.D. (2005). Bank specific, Industry specific and macroeconomic determinants of Bank profitability . Working Paper 25, Bank of Greece. Albertazzi U. & L. Gambacorta (2006). Bank profitability and the business cycle. Working paper 601, Bank of Greece. Beltratti, A., & Stultz, R. M. (2009). Why did some banks perform better during the credit crisis? A cross-country study of the impact of governance and regulation. Working Paper. NBER. Berger, A., & Bouwman, C. (2010). How does capital affect bank performance during financial crises? Working paper, 11 -22. Wharton Financial. Borio, C., Zhu, & H. (2008). Capital regulation, risk-taking and monetary policy: A missing link in the transmission mechanism? Working Paper, 268. Bank for International Settlements. Cekrezi A. (2015). Factors affecting performance of Commercial Banks in Albania. The European Proceedings of Social and Behavioural Science. Central Bank of Kenya (2015). Monetary Policy Statements. Retrieved on 15th July 2015 from https://centralbank.go.ke/index.php/monetary-policy-statements Cooper D.R & Schindler, P.S. (2003), Business Research Methods (8th edn) McGraw Hill: Boston.https://keffi.nsuk.edu.ng/handle/20.500.14448/718This study examines the effect of monetary policy instruments in terms of open market operation (OMO), cash reserve ratio (CRR), and monetary policy rate (MPR) on financial performance (ROA) of quoted deposit money banks (DMBs) in Nigeria. Expost facto research design was adopted using panel data collected from the financial reports of the sampled quoted banks and the CBN Bulletin for the period of 10 years spanning 2010 through 2019. Panel regression analysis was used and it was found that; OMO has an insignificant negative effect on ROA, while CRR has a significant negative effect on ROA. In the case of MPR, an insignificant positive effect on ROA was found. The study concludes that monetary policy is negatively related to financial performance of quoted DMBs and recommended among others that, CRR should be reduced by the CBN on quoted DMBs with a view to improving money in circulation for improved liquidity base in the banks and consequence increase in the credit level for increase in profitability.enOpen Market Operation, Cash Reserve Ratio, Monetary Policy Rate, Profitability, Quoted Deposit Money Banks, Nigeria.Article