The study looked at how inflation and interest rates are related in Nigeria from 1970 to 2009. They found that real interest rates stayed stable, but nominal interest rates and expected inflation didn't always match up perfectly. This means that while the full Fisher effect doesn't hold, there is a strong connection between interest rates and inflation in Nigeria. The researchers also discovered that inflation influences interest rates, not the other way around, and only a small portion of interest rate imbalances are fixed within a year. The main takeaway is that Nigeria's monetary policy should focus on controlling actual inflation.