Preheat the oven to 350℉ (180℃). Grease your baking pan with some butter and dust it with some flour, then set it aside. 12-inch pan or 2 8/9 inch pans.
In a bowl, mix flour, baking powder, and nutmeg. Set aside
In another bowl, cream butter and sugar until light and fluffy. About 10 minutes using a hand whisk, 2 to 3 minutes in a stand mixer (med/low speed), 3 to 4 minutes with an electric hand mixer (med/low speed).
Add eggs one at a time, mixing well after each addition. Scrape down the bowl as needed.
Add vanilla extract and mix.
Alternate adding flour mixture and milk, mixing just until combined.
Pour the batter into the baking pan and bake for 80 to 100 minutes if using the 12-inch pan and 60 to 70 minutes if using the 8-inch pans.
Bake until it's golden and caramelized on the edges and a toothpick inserted in the center of the cake comes out fairly clean.