This project appraised the monetary policy of the Central Bank on the commercial banks Nigeria. Part of the statutory power of the Central Bank of Nigeria is to conduct the activities of commercial bank in other to sustain a verily economy. However, when monetary policy be implemented, the external reserves will maintained safeguard the international value of the currency and promotes stable exchange rate. The monetary instruments which the Central Bank of Nigeria used to achieve these objectives are open market operation, moral suasion, reserve requirement, special deposit, bank rate etc. which subsequently have a positive impact on the economy. To authenticate the statement of fact that the Central bank play an important role in the economy through the implementation of monetary policy, a well structured questionnaire was presented at Wema Bank Plc. The method of statistical analysis used in chi-square in conclusion, this project appraises the role of the Central Bank of Nigeria on commercial banks in Nigeria through a well implemented monetary policy with turn-over on liquidity channel, credit channel, exchange rate mechanism etc.