Corruption would appear to be almost ‘hardwired’ into the fragile democracy of Nigeria. Well-endowed with natural resources, Nigeria should have been one of the wealthiest countries in West Africa. Instead, it has one of the highest levels of inequality with a large part of the population living below the poverty line in contrast to a small elite that has reserved access to the national wealth. Based on a review of literature on the subject that is supported by documentary analysis of media sources and of known cases, our chapter seeks to understand the social historical context of corruption of the ruling elite. Within many countries there is an inevitable tension between the ideals of equality across the wider population and the favourable position of a far smaller group of political elitist entrepreneurs. A small part of it manifest itself as ‘godfathers’, wealthy political patrons, who form the political elite class. Of interest is the position of this godfatherism in Nigerian society, whether that be within the political or economic sectors, and how they are able to influence decisions of social and economic importance by influencing the instalment into high positions of their nominees (godsons). But the godson remains dependent as he must pay back the investment. This can lead to rigged election outcomes and processes. When elitism becomes corrupted in this manner, we find that established norms and traditional hierarchical deference to authority actually protect those politically powerful elitist entrepreneurs, which would place them ‘above the law’. This position will only change when there is far greater transparency within the decision-making process as currently the case.