Hayatou (pictured above left with Blatter) is being probed by the IOC's Ethics Commission following a British television broadcast almost a year ago relating to the downfall of FIFA's former partners, ISL.

The programme, aired just before the vote for the 2018 and 2022 World Cups, alleged that Hayatou, President of the Confederation of African Football (CAF), was one of several senior FIFA officials who took bribes and reports have suggested the influential Cameroon official could be sanctioned by the IOC early next month.

Remarkably, despite the IOC investigation, Hayatou was recently appointed chairman of FIFA's Goal project in succession to the banned Mohamed Bin Hammam.

Quite how FIFA can justify giving responsibility for their entire development fund to a man who is under investigation will raise more than a few eyebrows but Blatter insists his colleague should be judged innocent until proved guilty.

"We're not investigating, the IOC is," said Blatter in an interview with the German newspaper Frankfurter Allgemeine in conjunction with FIFA.Com.

"They're investigating a sum of under 25,000 Swiss francs (£17,000/$27,000/20,000).

"According to the CAF accounts, which we also examine, the money has been correctly accounted for."

But Blatter made it clear that any FIFA Executive Committee members found to be corrupt under the newly announced reforms would face the music.

"Either they would have to resign or wait to find out what the independent investigators decide," he said.

"I would like to emphasise that the payments made by ISL at the time were not illegal.

"It does look like some people won't be able to stay on the Executive Committee.

"I don't want to talk specifically about the ISL case.

"We'll do it openly and publicly and we'll ask an independent body to judge the documents.

"I can only tell you that there are no Swiss names on the list of people who accepted payments.

"Those who are hunting me and suggesting that Sepp Blatter is on the list are plain wrong."

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October 2011: FIFA to reopen ISL case, Blatter announces
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September 2011: IOC member under investigation appointed as head of London 2012 football
December 2010: IOC member claims conscience is clear over Panorama bribe claim
November 2010: IOC to investigate Hayatou as fallout from Panorama probe intensifies