Education is and will continue to be the only currency all nations will use and no central Bank can print, but the culpable upsurge of corrupt practices that keeps wrecking this sector in Nigerian is becoming more devastating and alarming that if care is not taken, it may become widespread to other sectors since education encompasses all as the backbone to which every other social and economic activities relied upon. Currently, what is obtainable in Nigerian Universities is corruption in all its ramifications this is not cheering news for the country, some factors which are major causes of corruption are identified and x-rayed and suggestions proffered. More worrisome, it has been observed that huge resources that are meant to be used in developing the nation University sector have left and are still leaving the shores of this country to neighboring countries and Government seems to have no political will to address this critical and disturbing monster.