Remove the tofu from the package and press between paper towels for 10 minutes to remove excess moisture, then crumble into small, bite-sized pieces.
Heat the olive oil in a large pot over medium heat and sauté the diced onion and red bell pepper until the onion is translucent.
Add the crumbled tofu to the pot along with the chili powder, cumin, garlic powder, sea salt, and black pepper, stirring to coat the tofu evenly.
Stir in the rinsed black beans, diced tomatoes with their juices, vegetable broth, and nutritional yeast.
Bring the mixture to a gentle boil, then reduce the heat to low and simmer for 15-20 minutes until the liquid has thickened and the flavors are well combined.
Serve hot in a bowl, optionally garnished with fresh cilantro or a squeeze of lime.