During the time this place was named, there was the activity of selling èkùrọ́ ‘palm tree kernel’. Thus, this led to the name of the place, Elékùrọ́. Back then, during the time of Baṣọ̀run ‘lord of Ọ̀run Festival’ Olúyọ̀lè, there was bodè ‘a town’s entrance/gate’ at this place which served as one of the boundaries in Ìbàdàn. To buttress this is the history told by Akinyele (1911: 32-33); there was a time when Baṣọ̀run Olúyọ̀lè went to war with Jẹ̀bú Rẹ́mọ.
Before Basorun Oluyole returned, his war-chief, Bánkọ́lé Alẹ́ṣinlọ́yẹ́, and his remaining warriors (who did not follow him to the war) had conspired against him. Bánkọ́lé put an army at the Ìjẹ̀bú’s entrance in order to prevent Baṣọ̀run Olúyọ̀lè’s entrance. However, he and his army secretly entered the town at midnight; they did not enter through Ìjẹ̀bú’s entrance which Bánkọ́lé thought they would pass. Rather, they entered through the path of Bodè Elékùrọ́ ‘Elékùrọ́’s entrance’.
Baṣọ̀run Olúyọ̀lè had already gotten home before the people of Ìbàdàn were aware that he had arrived. When Bánkọ́lé heard about his arrival, he headed to his house with the aim of killing him. However, when he was almost entering Baṣọ̀run Olúyọ̀lè’s house, one of his slaves named Tèmílékè shot at Bánkọ́lé and he died. After his return from the Elédùwẹ́ War, he became Basorun (before he went, he was Baálẹ̀). This event led to an oríkì ‘cognomen’ of Baṣọ̀run Olúyọ̀lè which goes thus;
Ẹni a ní kó má wọ Ìbàdàn mọ́, the person who was prevented from entering the town,
Tó bá tElékùrọ́ wọ̀lú, who entered through Elékùrọ́’s entrance,
Ó délé tán, Iba ni wọ́n fi ó jẹ. upon his arrival, he was awarded an Iba title.