The Irish superstar was knocked out in the second round of his rematch against Dustin Poirier in January.
But Covington, who lost to Usman in 2019, has rubbished the idea of McGregor becoming a welterweight.
Speaking on MMA Fighting’s What The Heck, he said: “I haven’t seen it, but I’ve heard about it and that’s obviously just Conor trying to get some hype, get some headlines. Come on, dude, the guy just got knocked out by ‘Dustin Sorry-ier.’
“Come on, are you serious? You want a title shot at 170? You’re getting beat up by gatekeeper lightweights and now you want to come to the top of the 170 welterweight division? Everybody knows what Conor’s doing. He’s not really gonna do that. He’s not gonna come up and fight welterweight.
“He’s just doing that to grab attention, to grab headlines, make people think he’s being taken seriously because honestly, he’s a joke.
“He’s the laughingstock in the MMA community and even to casual fans because they’re just like, ‘Conor’s washed up. He’s done.’ He made all that money with his whiskey, he made all that money for the Mayweather fight, he has no motivation.
“Nothing gets him up early in the morning to go fight. He tries to say it’s for his kids but man, the guy’s done. He has nothing left in the tank.”
McGregor knocked Poirier out in one round back in 2014 but was undone by a series of blows in their second fight earlier this year.
The Notorious’ future as a global star rests largely on the trilogy bout, with back-to-back defeats potentially ending his career at the very top level.