Nigeria is a blessed country, with mineral and natural resources, yet a vast majority of her citizens suffer in poverty, because of bad leadership and mismanagement of public fund. Knowing that corruption in itself is an in-depth concept, the study will focus on Elite Corruption, Electoral fraud and the political manipulations of public funds in Nigeria, especially in the democratic era from the year 1999 to 2011. The Political elites in Nigeria have done more harm than good to the masses, as they employ the tool of god-fatherism, purchase of the conscience of the poor masses by patronising them during elections, and making great promises that they know they sure would not deliver. The study would explore how corruption has become a political tool that has kept the democracy of Nigeria in captivity and the economy in shame. It is the aim of this study to verify the uneasy way path to democracy, which is obviously a result of elite corruption and electoral manipulations.