This study assessed mycotoxin contamination in roasted peanut snacks and kluiklui (fried pressed peanut cake), and consumer exposure in southern Benin. Roasted peanut snacks and kluiklui were sampled from markets across six municipalities, and their production follow-up was conducted on two sites using different processing methods. Mycotoxins were quantified using UPLC-MS/MS, while fungal species were identified via culture-based methods. Exposure to aflatoxin B1, total aflatoxins and ochratoxin A was estimated. Aflatoxin B1 predominated, reaching 169 µg/kg in roasted peanut snacks and 2144.64 µg/kg in marketed kluiklui. In contrast, just-produced kluiklui contained much lower levels (11.73–37.78 µg/kg). Aspergillus flavus and Aspergillus niger predominated in kluiklui from the first processing site, while Aspergillus chevalieri dominated in kluiklui from the second processing site. The grinding step (using public grinder) was identified as the main contamination point. The significative higher mycotoxin levels in kluiklui sampled on markets compared to just-produced kluiklui are probably due to poor storage conditions. Dietary exposure estimates revealed that margins of exposure for aflatoxins were far below the safety threshold of 10,000, and liver cancer risk estimates were particularly high for kluiklui consumers. Kluiklui consumption poses a significant health risk in Benin. Improved hygiene in public grinders and better storage practices are urgently needed to reduce contamination and protect consumers’ health.