Heat a large skillet over medium-high heat. Add the olive oil and chicken strips and cook for 5 minutes until lightly browned. Add the garlic, cumin, chili powder, paprika, cayenne pepper (if using), salt and pepper to taste. Cook for another 2 minutes.
Add the bell peppers and onions to the skillet. Cook for an additional 5 minutes or until vegetables are tender.
Add the lime juice to the skillet and stir everything together. Remove from heat.