Oil-based nanofluids are used to strengthen the stability of nanofluids as well as their thermophysical properties when they are exposed to high temperatures. The time-dependent thermophysical characteristics of multiwalet carbon nanotubes for kerosine oil-based nanofluid are numerically explored in this study. Considering a constant magnetic field, the radiative domain is examined in a lid-driven squared shape cavity with a semicircular heater on the middle part of the bottom wall. The Galerkin residual technique based on finite elements is used to obtain nonlinear dimensionless governing equations. Thermal conductivity along with dynamic viscosity models integrate Brownian motion of nanoparticles. The Reynolds number, the Hartmann number, the Radiation Parameter and the Richardson number are assumed to be constant to account for the fluctuation in solid volume fraction (ϕ = 0% to 10%). The results demonstrated that particle concentration improves the nanofluid’s thermophysical properties from 1 to 9 times than the 0% concentration and the heat transfer rate from 1 to 3 times. In addition, dimensionless time enhances all except the heat transfer rate and drag force of the sliding lid. It is worth noting that the considered parameter exhibits consistent behavior after a while.