In a saucepan heat the oil on medium high heat and add the cumin and paprika. Cook until the spices become fragrant, about 1 minute, and add the onions. Continue to cook until the onions until they turn translucent.
Add the black beans with their liquid, garlic powder, salt, and cilantro. Bring to a boil and reduce to medium low. Cook for 15 minutes stirring occasionally. Stir in the lime juice once cooking has completed.
Top with additional cilantro and cotija cheese if desired.