The literary career of Maximiliano Nkogo is a promising one. In spite of the fact that his production is limited to two major fictional works, Adjá-Adjá y otros relatos (1994) and Nambula (2006), Nkogo has being praised by critics for his capacity to describe the social, economic and psychological collapse of contemporary Equatorial Guinea. In this paper, I intend to analyse Adjá-Adjá y otros relatos in terms of its relationship with picaresque tradition. This type of fiction normally reflects a morally unbalanced society where the governance of law has almost been erased. The situation of historical uncertainty, together with a profound social and political crisis turn the “pícaro” into the metaphor of an ill society in which its members transit several moral borders while at the same time they try to survive. In the case of Adjá-Adjá y otros relatos, the picaresque tradition develops its own specific characteristics within the Equatoguinean context, extremely conditioned by Obiang Nguema’s regime. It is my purpose to analyse how the different characters of these two stories interact with their social reality, paying special attention to the relationship existing between their daily lives and the very often critical situation of both postcolonial Africa and present Equatorial Guinea.