In a large skillet, heat the olive oil over medium heat. Add the cubed chicken and season with fajita seasoning, salt, and pepper. Cook for about 5-7 minutes, until the chicken is cooked through, stirring occasionally.
Add the sliced bell peppers and onions to the skillet. Sauté for an additional 5 minutes, until the vegetables are tender.
In a large mixing bowl, combine the cooked rice, black beans, salsa, and half of the cheese. Mix well.
Once the chicken and vegetables are cooked, add them to the rice mixture and stir to combine.
Pour the entire mixture into a greased 9x13 inch baking dish. Spread it evenly and top with the remaining cheese.
Bake in the preheated oven for 20-25 minutes, or until the cheese is melted and bubbly.
Remove from the oven and let it sit for 5 minutes. Garnish with fresh cilantro before serving.
Notes
Serve with sour cream and a side of tortilla chips for added crunch.