The researchers analyzed how changes in the monetary policy rate in Nigeria affect other interest rates. They used a mathematical model to study the relationships between these rates from 2007 to 2012. Despite keeping the monetary policy rate stable, short-term and long-term interest rates in Nigeria did not show the same stability. The study aimed to understand how interest rates respond to changes in the monetary policy rate, especially after the global economic crisis. The results will help track how effective monetary policy is in a developing market like Nigeria, where the money market is not fully developed.