Nankervis is facing suspension for the hit that concussed Lloyd during the second quarter of the Tigers' 13-point win at the MCG on Thursday night.
Lloyd was flattened and play was eventually paused while he was assessed by medical staff before he jogged off the ground under their watch.
The Swans defender was substituted out before half-time and will miss next week's clash with the Western Bulldogs under concussion protocols.
Nankervis went on to be one of Richmond's most influential players as they overwhelmed Sydney after half-time, posting a victory that puts them on the verge of the top eight.
But the Tigers' co-captain appears likely to be suspended for multiple matches, with the league's match review officer to determine a grading of the incident on Friday.
Richmond face West Coast, Hawthorn and Melbourne in a crucial stretch of matches over the next three weeks.
"Toby's greatest strength for a long period of time (has been) his ability to get after the ball and the opposition," Tigers interim coach Andrew McQualter said.
"Whatever comes of it comes, but we wouldn't change Toby for the world.
"I thought Toby had a great game ... as a captain he led the way with what he did, particularly in the first 15 minutes of that third quarter.
"He was really significant."
The fallout from Nankervis' bump, which robbed Sydney of one of their chief playmakers, sparked calls for a send-off rule like those used in other football codes.
"I reckon we are at a point where we should accept Nankervis being sent off for that," Brownlow medallist Adam Cooney tweeted.
Sydney coach John Longmire was seething about losing Lloyd to concussion but wouldn't buy in to the send-off rule discussion.
"You can't do anything about it. Suck it up," Longmire said.
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