The student is alleged to have disappeared in order to demand a ransom from his parents.
Aged 23, the student was arrested as he was accused of “disappearing” on Sunday and calling his mother days later to ask for 70,000 Kenyan shillings ($593; £494) in ransom money.
African Entertainment understands that part of the ransom was paid on Wednesday.
But police indicated that the student went on a drinking spree on the outskirts of Nairobi with a woman who spiked his drink and stole the money.
After the drinking spree, he made another demand for payment on Thursday and was paid a second instalment of the ransom but was arrested soon after and the money found stuffed in his shoes.
According to Kenyan police, the student confessed to having squandered the money meant for last semester’s fees and faked his kidnap to raise more funds.