The State's ethics agency has decided it will not investigate payments made to Taoiseach Bertie Ahern by groups of businessmen in 1993 and 1994.

Last April, the Standards in Public Office Commission made contact with Mr Ahern after it got two complaints about the payments from members of the public.

At the time the commission said it had received Mr Ahern's full co-operation.

Mr Ahern confirmed he received more than €50,000 in two payments in 1993 and 1994, and a third separate contribution of £8,000 after he attended a business dinner in Manchester.

Today, the commission said it had decided there was no basis on which to initiate an investigation.