Rinse the rice under cold water until the water runs clear. Drain and set aside.
In a large skillet or pot, heat the olive oil over medium-high heat. Add the chicken pieces and cook until browned, about 5-7 minutes. Remove the chicken and set aside.
In the same skillet, add the diced onion and cook until softened, about 3-4 minutes. Stir in the minced garlic and cook for an additional minute.
Add the diced red bell pepper, cumin, paprika, turmeric, salt, and black pepper. Stir to combine and cook for another 2 minutes.
Return the chicken to the skillet and add the rinsed rice. Stir to coat the rice with the spices and mix everything well.
Pour in the chicken broth and bring to a boil. Reduce the heat to low, cover, and simmer for 18-20 minutes, or until the rice is cooked and the liquid is absorbed.
In the last 5 minutes of cooking, add the frozen peas on top of the rice without stirring. Cover again and let steam until the peas are heated through.
Remove from heat and let sit, covered, for 5 minutes. Fluff the rice with a fork and garnish with chopped cilantro. Serve with lime wedges on the side.