This research looked into how pension funds held over a long stretch can provide a lot of capital to the market in the long term rather than giving out speculative capital over a short period. It studied how pension funds impact capital market performance in Nigeria. To do this, data from the quarterly reports of National Pension Commission and the Central Bank of Nigeria Statistical Bulletin from 2014 to 2019 (spanning 24 quarters) was used. The sample group was comprised of 50 companies, including 24 Pension Fund Administrators. This study looked into seven Closed Pension Fund Administrators (CPFAs) and nineteen Approved Existing Schemes (AESs). Everyone was included in the research, and it was conducted by looking at what happened in the past. Analysing the data collected from a secondary source, it was found that private equity had a noticeable effect on the financial market in Nigeria. It was recommended that the government should make policies to make sure more people invest in private equity, since it helps the Nigerian financial market. The results also showed that the regulations by the government weren't doing enough to get pension reform and economic reform to link up, and there were other problems with the regulations that didn't help create trust in the reform.