The study was done to ascertain the role of Central Bank of Nigeria plays in the regulation of Nigerian economy using the monetary policy.  Among the goals of economic stabilization the most important is to achieve full employment, price stability, balance of payments and exchange rate stability, hence the regulation of the economy  using monetary policy.  To solve the research problem, primary and secondary data were collected. The research instrument used in collecting the data were the questionnaires and oral interview.  The respondents comprised of the top business executions both private and public servants.  The population of the study and the population sample is 100 and 80 respectively.  The researcher employed statistical techniques of simple percentage frequency to analyze the data collected.  The researcher’s findings showed that while monetary policy has been vital tool used by the Central Bank of Nigeria to regulate the economy, some hindrances still arise as a result of some variables such as socio-political problems.  However, the researcher is of the view that the Government, the Central Bank of Nigeria and other relevant monetary authority are able to come up with some policies such as fiscal policies to augment the monetary policy, the Nigerian economy will surely be best managed.