This is as it has announced the minimum cut off marks for tertiary institutions.
According to JAMB, the minimum cut off mark for universities in the country is 120, while for polytechnics and colleges of education is 100.
The body said the decision was a collective decision of stakeholders in the education sector.
Earlier, Prof Oloyede had explained that the target of CAPS was to streamline admission process and ensure that only candidates with the requisite qualifications were given admission into the nation's universities, polytechnics and colleges of education.
"Cancellation of Post-UTME is a mistake", he said on Tuesday at the 2017 Combined Policy Meetings on Admissions into Tertiary Institutions in Nigeria.
2017 UTME would gain admission into tertiary institution.
Oloyede also said JAMB discovered over 17,160 students who were illegally admitted by higher institutions.
The Minister admitted that he ordered the cancellation of the conduct of the post-UTME error previous year, saying that was in breach of the university autonomy that confers power on the Senate of the institutions to admit students.
"JAMB has a Central Admissions Processing System (CAPS) to aid you on the admission exercises", he said. "We should not be sentimental in fixing cut-off marks".
"All over the world there is agitation for dynamic educational policy, Jamb only admits for National Diploma not Higher National Diploma so why should we use the same requirement for ND and B.Sc that is unreasonable parity".
He therefore declared that the Senates and Academic Boards of universities were now free to exercise their autonomy with regard to setting standards and guidelines for their admission, adding, however that fees charged for the conduct of post-UTME screening "should not exceed N2,000 per student".
"It will also allow for flexible cut-off marks and candidates are allowed to make their choice of institution and course".