ABSTRACT:- The study examined the moderating effect of managerial ownership on the relationship between working capital management and financial performance of listed manufacturing firms in Nigeria from 2013 to 2023. The fifty-six (56) listed manufacturing firms in Nigeria constituted the population of the study and a sample of twenty-six (26) was selected using a purposive sampling technique. The study adopted the fixed effect model to test the study hypotheses. The study findings revealed that the moderating effect of managerial ownership on account Receivable management, and inventory management have a positive significant effect on the financial performance of listed manufacturing firms in Nigeria, while moderating effect of managerial ownership on account payable management have a negative significant effect on financial performance. In addition, the moderating effect of managerial ownership on Cash conversion cycle revealed a positive insignificant effect on the financial performance of listed manufacturing firms in Nigeria.  Based on the findings, the study recommended that the listed manufacturing firms in Nigeria in Nigeria need to improve their working capital efficiency, and carefully consider their cash conversion cycle not it in isolation when making strategic decisions to improve their financial performance. Furthermore, the firm should focus on increasing managerial ownership by offering stock options and other incentives to managers for improved working capital management, better decision-making, and a greater alignment of interests between managers and shareholders.

Keywords: Working capital, Managerial ownership, financial performance, Consumer goods firms.