On Wednesday, the 25-year-old admitted an online banking fraud, in which a woman lost more than £2,000.
However BBC Essex understands that is unrelated to his situation at Southend.
"We will not allow any matter to bring the club into disrepute. We will take a balanced view and come to a decision once all of the information is understood," chairman Ron Martin said.
"I have supported Nile, along with (manager) Phil Brown and the other players," Martin added. "We all would like to see him succeed on and off the pitch, both as player and person."
Southend say they will consider their options, but claim they are unlikely to release any more information until next week.
Southend United say striker Nile Ranger is facing suspension by the League One club after a "breach of discipline".