In a large mixing bowl, peel and mash the overripe bananas with a fork until they reach a smooth, slightly chunky consistency.

Add the vanilla extract and sugar to the mashed bananas, stirring well to combine the wet ingredients thoroughly.

In a separate medium bowl, whisk together the all-purpose flour, ground nutmeg, ground cinnamon, baking powder, and salt.

Gradually fold the dry flour mixture into the wet banana mixture, alternating with splashes of milk until a thick, scoopable batter forms.

Heat the vegetable oil in a large skillet over medium heat until it shimmers and a drop of batter gently sizzles upon contact.

Drop heaping tablespoons of the batter into the hot oil, spacing them an inch apart to prevent sticking, and lightly flatten the tops with the back of the spoon.

Fry the fritters for 2 to 3 minutes on the first side until the edges are golden brown and small bubbles appear on the surface.

Carefully flip each fritter with a spatula and cook for another 2 minutes until both sides are deeply golden and crispy.

Transfer the cooked fritters to a plate lined with paper towels to drain any excess oil. Serve warm, lightly dusted with powdered sugar, alongside a hot cup of coffee or tea.