Like many great communities whose histories are rooted in folklore and tradition, Ajegunle has a rich and storied past. Its socio-cultural heritage is deeply intertwined with families who have preserved their customs and values over generations, even as Ajeromi-Ifelodun evolved into the bustling, cosmopolitan hub it is today.

Historical records show that the Ojora Royal Family (formerly the Ojora Chieftaincy Family) and the Oluwa Family are the original landowners , with the Ojora family recognized as the owners of Ajegunle, and the Oluwa family as the owners of Araromi. The name “Ajeromi” itself is derived from the fusion of the two community names: Aje (from Ajegunle) and Romi (from Araromi).

Several pioneering families are also acknowledged as the first settlers of Ajegunle, including the Adeyemo, Fakunle, Bakare, Adekunbi, and Thomas families. These families have played significant roles in preserving the community’s cultural legacy and historical identity.

It is documented that the Adeyemo Family coined the name “Ajegunle”, from the Yoruba phrase “Ibi ti Ajemi gunle si ree”  meaning “This is where my wealth resides.”

The Fakunle Chieftaincy Family, tracing its roots back to 1872, were among the earliest settlers. Their journey began at 13 Afnah Street, Ita-Faji, Lagos Island, before relocating to Apapa-Elemu (Marine Beach), then to the site of the Federal Government Press. The family later became the first known settlers and Ba’ale of Alayabiagba in 1872, before founding Aiyetoro — meaning “Aiye mi to toro” (“My life is peaceful and prosperous”) — in the early 19th century.