The study on financial intermediaries and short term capital formation in Nigeria (1993-2019): A comparative analysis of selected intermediaries investigated the contribution of discount houses, micro finance banks, primary mortgage institutions and finance houses to the Nigerian money market. The objective is to determine the liquidity contribution of each intermediary to short term capital formation in Nigeria. The population of the study is made up of five (5) discount houses, Thirty (30) primary mortgage institutions, six hundred and twenty-nine (629) micro-finance banks and Seventy-nine (79) finance houses in the Nigerian financial system. The sample of the study is the consolidates financial position of the discount houses, primary mortgage institutions, micro-finance banks and finance houses as contain in the central bank of Nigeria statistical bulletin for 2019.Both descriptive and inferential statistics was employed for the study with Stata 10 pack for data analysis. The study revealed that there exist a significant relationship between the selected intermediaries and short-term capital formation in the Nigerian money market. The finance houses followed by the discount houses, microfinance banks and lastly primary mortgage institutions have the highest to the least correlation respectively to short term capital formation in the money market..The study recommends that investors in financial securities should always seek the services of financial intermediaries to transfer risk through in buying and selling of securities in financial markets. Financial intermediaries, most especially the primary mortgage institutions should increase their spread or office network as well as educate the non bank public as a role to enhancing financial inclusion strategy, reduce financial dualism and increase capital formation in the money market. The Monetary authorities should re-established discount houses to manage liquidity and enhance intermediation as found in other developed economies but with slight modifications to allow it engage in other banking and non-banking financial services to courte public participation and investments in discount houses. Monetary authorities should also modify the operations of the Nigerian money market to reduce financial dualism to its barest minimum and meet international best practices. Financial intermediaries require a shift as stated in the shiftability theory from investors borrowing funds from the banks to investing in money market instruments to further develop the money market and avoid borrowing from banks particularly during inflation at higher rates but trade financial securities for funds at all times to acquire capital at short notice and at lower cost.