Bambara groundnut (BGN) [Vigna subterranean (L) Verdc] and Pigeon pea [Cajanus cajan (L.) Millspaugh] are grain legume species grown in tropical and subtropical parts of the world. Both legume grains are highly nutritious and have been used as food and medicine for both humans and animals. However, Bambara groundnut and pigeon pea are still highly underutilized and produced in low quantities despite their nutritional benefits. This review examines nutritional properties, medicinal uses, nutraceutical potential and the limitations in the utilization of bambara groundnut and pigeon pea. Scholarly articles and organization white papers were searched for using various word combinations of traditional farm practices, modern agricultural practices, traditional medicinal uses, nutritional composition, biochemical composition, Bambara groundnut and pigeon pea. Bambara groundnut and pigeon pea are popularly used as medicine in many parts of Africa. Both species are rich sources of bioactive compounds and several studies have documented their efficacy against several diseases. Bambara groundnut has been used to treat polymenorrhea, venereal diseases, cataracts, and morning sickness. The stem, leaves, seeds, and roots of pigeon pea plant has been used to treat many diseases in many parts of the world. Bambara groundnut has been found to be a potential dietary probiotic, antioxidant, antibiotic and anticancer. Hypocholesterolemic, anticancer, hepatoprotective, antidiabetic and antimicrobial activities have been documented for pigeon pea as well. However, low yield, unfavourable land tenure systems, unimproved varieties, diseases, and pests are the major constraints of the traditional production of bambara groundnut and pigeon pea. Both legume grain species are important sources of nutrients and they both possess strong potentials to be nutraceutical agents against many diseases including malnutrition. However, advanced and intensive research on pest management, improvement of the traditional landrace cultivars for improved yield and palatability as well as formulation of favourable land tenure policies are recommended for better adoption, utilization and commercialization of bambara groundnut and pigeon pea.