Festivals and traditional ceremonies are part of the cultural heritage of Africa. This is why the traditional Egungun festival in Yorubaland, till date, still enjoys indigenous monopoly. However, its resources as a unique cultural asset of Africans are presently under utilized and therefore need to be further explored for greater relevance with the sophistication and demands of contemporary age. This, thus, constitute the subject of this paper. The paper, therefore, focuses on the exploration of the content and form of traditional egungun Ado festival in order to define the basis for its enduring value in Ado Ekiti. This is discussed from analytical and mythological perspectives. The paper establishes that for any art to thrive, it must remain dynamic. And more interesting, the paper unravels the dynamics, the beauty, the uniqueness and multiple potentials of this Egungun Ado festival. Through interviews, personal experience and observation, the paper posits that Egungun Ado festival plays pivotal roles in the social, religious and political milieu of the Ado people and has remained a rallying point. It concludes that Egungun Ado festivals with its rich content and form are crucial to the nation building process in African societies and in fact, capable of yielding great dividends in the global economy if appropriately explored. However, it is imperative that African counties implement credible cultural policies to index and protect the vulnerability of aspects of this Yoruba culture in the face of Western encroachments and onslaught of Islam and Christianity .