Assessment of the impact of COVID-19 challenges on the psychosocial wellbeing of the Nigerian populace are the focus of this paper. There are diverse reasons for the essence of assessment of this pandemic; however, the major reason is to document it for future generations. This study, therefore, examined the challenges faced by the populace as a result of COVID-19 pandemic in the South-Western zone and Nigeria as a whole. The study was conducted using a volunteering sampling technique and 335 participants were used using telephone inquiry. Those who completed the interview were 203 (60.6%) males and the rest 132 (39.4%) were female respondents. The instrument has a reliability coefficient of 0.76. Some of the challenges or impacts of COVID-19 on Nigeria populace are hunger, lawlessness, arm robbery, economic crisis, political crisis, financial problem, and hike in the price of essential commodities, young adults resulting in abuse of drugs, raping, pool betting, and internet fraudsters. The spiritual houses like churches, mosques, and shrine were closed up, couples that have given up raising child still found themselves in it as a result of lockdown order and finally the loss of love ones due to CORONA Virus. Based on these findings it was concluded that COVID-19 among the citizenry had cost Nigerians a lot of havoc. Article visualizations