Eugene Oghenerukevwe OKAREDJE

The study investigated stock market synchronization and market volatility in Nigeria for a period of 11 years (2009 to 2019). The rationale for the present study is predicated on the fact that the stock market play a significant role in the economy of every country across the globe. The study employed the regression analysis techniques on variables such as all share index (ASI), treasury bill rate (TBR), broad money supply (M2), oil price (OP) and exchange rate (EXRT). The empirical results revealed that; treasury bill rate (TBR) has a negative in significant effect on all share index in Nigeria within the period of investigation; broad money supply has a positive insignificant effect on all share index in Nigeria; Oil price(OP)exert significant and favourable impact on all share index in Nigeria; and exchange rate has a negative significant impact on all share index in Nigeria. The study recommends among others that; the Nigerian monetary authority should ensure exchange rate stability so as to encourage rate capital inflows in the economy; to ensure effective expansionary monetary policy in the economy, the Central Bank of Nigeria should strengthen the financial system so that broad money supply in circulation can contribute significantly to the performance of the capital market; and appropriate monetary measures should be undertaken to ensure stock price synchronization in order to the performance of the stock market in Nigeria.