Heat olive oil in a large skillet over medium heat. Add the chopped onion and garlic, sautéing until the onion is translucent, about 3-4 minutes.
Add the diced chicken breast to the skillet and season with salt, pepper, chili powder, cumin, and paprika. Cook until the chicken is browned and cooked through, about 5-7 minutes.
Stir in the quinoa, chicken broth, black beans, corn, and diced bell peppers. Bring the mixture to a boil.
Once boiling, reduce the heat to low, cover the skillet, and let it simmer for about 15 minutes, or until the quinoa is cooked and has absorbed most of the liquid.
Remove from heat and let it sit, covered, for an additional 5 minutes to allow the quinoa to fluff up.
Fluff the quinoa with a fork, taste for seasoning, and adjust salt and pepper if needed.
Serve hot, garnished with fresh cilantro and lime wedges on the side for an extra burst of flavor.