Here is an example of how the phrase might be used today.
Person A: Wallahi bro. Sherlock Holmes is the greatest fictional detective of all time. Wallahi, Professor Moriarty has met his match. Wallahi.
Person B: Bro. Wallahi. Sherlock Holmes is no match for the often bumbling but ultimately efficient tactics of Inspector Gadget. Wallahi, Dr. Claw is a far better criminal than Professor Moriarty. No one is going to dare break a wa—LAW—hi when Gadgets around. Wallahi.
Person A: Wallahi, I see what you did there. lol. Wallahi, I just lol’d. Wallahi.