The 24-year-old creative midfielder has been on trial with the Iron for a couple of weeks and has impressed manager Jimmy Dean and his staff.
Once an Under-17 World Cup winner with Nigeria in 2013, he was most recently contracted to Leicester City where he came through the ranks with Kelechi Iheanacho and Wilfred Ndidi. He was handed a four-year deal with the side in 2017
Prior to being with the Foxes, he was with Chelsea at Under-16 level and Birmingham City at Under-17 level.
Makanjuola started his football career with Niger United Football Academy and later moved to Water Football Academy where he was invited to the National Under-13 team.
However, he first came to limelight in 2010 when he won the Red Bull Street Ball juggling Tournament in Lagos and South Africa at just 11-years-old.
The nature of the dual registration sees the Iron identified as the parent club, with Makanjuola also able to feature for the Robins in the Northern Premier League Premier Division.