Heat oil in a large skillet over medium heat. Combine flour, salt, pepper, and paprika. While oil is heating dredge chicken in the seasoned flour. Place chicken pieces in pan and brown chicken on all sides. While chicken is browning, combine orange juice and peaches with brown sugar, vinegar, nutmeg, basil and minced garlic in a saucepan. Heat mixture over medium heat in a small pot. Reduce to medium low and simmer for 10 minutes. Remove chicken from skillet when it is browned and pour off excess fat. Put the chicken back into the skillet and pour the peach sauce mixture over top. Cover and simmer for 20 to 25 minutes, until chicken is cooked through. Serve with steamed basmati rice. Makes 4 to 6 servings.