The paper investigates on the lingering issue of monetary policy transmission from the perspective of Nigeria from 1980 to 2016. Applying a two way techniques of Vector Autoregression and Autoregressive Distributed Lag, we found that (1) jointly considered, monetary policy does not have any long...

To determine the relative importance of both the domestic and external influences on monetary policy formulation, this paper constructs a broad monetary conditions index for Nigeria. It brings together the three key channels of monetary transmission, namely interest rate, exchange rate and...