The body of the deceased was taken to Longisa hospital mortuary pending a postmortem.
Mutai shall be arraigned in court Monday to answer murder charges.
Last month, a 24-year-old man was arrested for the murder of his friend Kenneth Bundi, over a Sh20 debt.
Fred Mugambi is alleged to have assaulted the deceased at Kambo market in Meru county, leaving him with serious injuries that led to his death.
Kinoti said the suspect had an accomplice identified as Murangiri Maore, who fled the scene immediately after the incident.
"According to eyewitnesses, the two had confronted the deceased over Sh20 advanced to him earlier, to buy a glass local brew. But when he could not pay back, they descended on him with blows and kicks leaving him unconscious," Kinoti said.
"He was rushed to Nyambene level 4 hospital by well-wishers where he was pronounced dead on arrival."
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