It's often used to invoke blessings upon:
* People: Maferefun Iya mi (May it be well with my mother), Maferefun Baba mi (May it be well with my father)
* Deities: Maferefun Obatala (May it be well with Obatala), Maferefun Ogun (May it be well with Ogun)
* Concepts: Maferefun Adura (May it be well with prayers), Maferefun Iwa Pele (May it be well with good character)
It's a powerful expression of good intentions and can be used in a variety of contexts.