Monk has told Newcastle United to forget about signing Shelvey.
"Jonjo is going nowhere. The club cannot afford to let a player of that calibre go because he is one for the future of this club," Monk told Wales Online.
"He is an important player with potential and those are the ones we want at the club and we are in a healthy enough position not to have to sell.
"And I think Jonjo is happy here. It has been a difficult season for him but it's one he has really learned from and you can see that in his form now."