Rinse and soak the black eyed peas overnight.
In a large pot, heat olive oil over medium heat.
Add the diced onion and sauté until translucent, about 5 minutes.
Stir in the minced garlic and diced bell pepper, and cook for 2 additional minutes.
Add the soaked black eyed peas, vegetable broth, smoked paprika, and cumin.
Bring the mixture to a boil, then reduce to a simmer and cover.
Let it simmer for 30-40 minutes, or until the peas are tender but not mushy.
Season with salt and pepper to taste before serving.