The negative and mostly devastating consequences of corruption is perhaps the most compelling reason for which development – conscious nations of the world are resolved not to treat it with Kid – Gloves. It is an inordinate catastrophe that destroys socio-economic prosperity and the political development of any nation. This global predicament has had more than a fair share of the fabric and collective wealth of our lavishly endowed nation – Nigeria. Of more specific concern is the fact that corruption continues to thrive in spite of a constellation of legal/institutional frameworks like the Independent Corrupt Practices and other Related Offenses Commission (ICPC), targeted at overcoming the menace. This paper adopts a Desk/Documentary analysis, to ascertain the roles institutional autonomy plays in the fight against corruption, and to answer the question of the extent to which ICPC enjoys the level of autonomy needed to wage a successful war against corruption in Nigeria. The findings show, that the ICPC by its composition and formation lacks a specific mandate to exercise institutional surveillance, and prosecute suspects independently without government intervention. Besides, the agency is not independently funded. Its financial ties to the Apron Strings of the Federal Government seems to have reduced it to a dog that can bark, but can’t bite friends and loyalists of the government of the day, but seeks credibility in serving as a tool for harassing and intimidating perceived enemies of the government. The paper recommends among others, a review of the ICPC Act 2000, to make the ICPC significantly independent of all the organs of government, along the lines of International Best Practices of setting up such anti – corruption institutions.