Place chick peas and 3 cups of water into a saucepan and bring to the boil. Simmer for approximately 60 minutes until well cooked.
Place warm chickpeas, peanut butter, olive oil, cocoa powder, sugar and vanilla extract into the food processor and puree until smooth (approx. 2 mins).
With the motor running on the food processor, slowly pour water, one tablespoon at a time until you reach your desired spreading consistency.
Spoon into a sealed container and store in the fridge.