Lauren James, 21, was sent off for stamping on the back of Michelle Alozie in the last 16-tie, which England won on penalties.
The dismissal came with an automatic one-game ban which Fifa has increased, meaning she will miss the semi-final if England get there.
The Lionesses face Colombia in the quarter-finals on Saturday (11:30 BST).
Lauren James is England's top scorer in the tournament, having scored three goals, as well as assisting three more, in the group stages.
Lauren James has been given a two-game ban for her red card against Nigeria. It means she's eligible for the Women's World Cup Final if England make it.🏴 pic.twitter.com/pDrqilM07L
— Ben Jacobs (@JacobsBen) August 10, 2023
The Chelsea forward apologised to Alozie on social media after the incident and promised to learn from her mistake.
After the game, England boss Sarina Wiegman said: "She is inexperienced on this stage and in a split-second lost her emotions. It isn't something she did on purpose. She apologised and felt really bad.
"She would never want to hurt someone. She is the sweetest person I know."
If the Lionesses are knocked out of the World Cup on Saturday, James' ban will carry over to England's next international fixture.
BREAKING: Lauren James has been handed a 2-match ban for her red card for violent conduct against Nigeria. 🚨 pic.twitter.com/wrHx7BWg8o
— Sky Sports News (@SkySportsNews) August 10, 2023
Lionesses boss Sarina Wiegman said Lauren James "lost her emotions" but didn't want to hurt anyone.
Wiegman said: "She is the sweetest person I know.
"Yet then things happen like that and you cannot change it any more. So it is a huge lesson for her to learn, but it is not something that she really did on purpose.
"It happens sometimes with human beings - that you are in such an intense game, such an emotional game and, in a split-second, she lost her emotions.
"She apologised and she felt really, really bad and absolutely she does not want to hurt anyone."
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