Rinse the soaked black eyed peas and drain them.
In a large pot, heat the olive oil over medium heat.
Add chopped onion and sauté until translucent.
Stir in minced garlic and diced bell pepper; cook for another 2 minutes.
Sprinkle in cumin and smoked paprika; mix well.
Add the drained black eyed peas to the pot.
Pour in the vegetable broth and bring to a boil.
Reduce heat and simmer for about 30 minutes until peas are tender.
Season with salt and pepper to taste.
Serve hot, garnished with fresh cilantro.