Place the soaked and peeled beans, chopped onion, and chili in a food processor or blender. Add only a minimal amount of water (about 50 ml), just enough for the beans to blend. The consistency must be thick and the paste completely smooth.
Transfer the paste to a large bowl and whisk with a hand mixer or whisk for 5–10 minutes. The goal is to incorporate as much air as possible into the paste to make it 'fluffy' (foamy). This is the key step for the delicate texture of Akara.
In a deep pot, heat the oil for deep frying over medium-high heat (approximately 185 °C (365 °F)).
Use a spoon to scoop a small amount of the bean paste and carefully place it into the hot oil. The fritters should float on the surface.
Fry for 2–3 minutes on each side until they are evenly golden brown and crispy.
Remove the Akara fritters from the oil and let them drain on a paper towel.
Serve hot, either with a tomato and onion sauce or with the traditional sour cream/yogurt seasoned with salt and spices.