In a large bowl, whisk together the flour, sugar, baking powder, ground cinnamon, ground nutmeg, and salt until well combined. This ensures the spices and leavening agents are evenly distributed throughout the dry mixture.

In a separate medium bowl, thoroughly mash the ripe bananas with a fork until mostly smooth with only small chunks remaining. Whisk in the milk, egg, melted butter, and vanilla extract until the wet ingredients are fully integrated.

Pour the wet ingredients into the dry ingredients and gently fold them together using a spatula just until combined. Be careful not to overmix, as a few lumps in the batter are perfectly fine and help keep the pancakes tender and fluffy.

Heat a large non-stick skillet or griddle over medium heat and lightly coat it with a thin layer of vegetable oil. You will know the pan is ready when a drop of water sizzles and evaporates immediately upon contact.

Pour about 1/4 cup of batter onto the hot skillet for each pancake, leaving space between them to allow for easy flipping. Cook for 3 to 4 minutes, or until bubbles form on the surface and the edges look dry and slightly set.

Carefully flip the pancakes using a wide spatula and cook the other side for an additional 2 to 3 minutes until golden brown and cooked through. Transfer the cooked pancakes to a warm plate and repeat the process with the remaining batter.

Serve the pancakes immediately while they are hot and fluffy. Top with a generous drizzle of warm maple syrup, fresh banana slices, and a light dusting of powdered sugar or chopped walnuts if desired.