Peel the bananas and cut each in two.
Mix the cereal, cinnamon and nutmeg. Note: The grape nut cereal does not crush well in an electric chopper. It is best to place it in a clean bag, hold the end tightly and use a rolling pin to crush it. You can also leave the cereal as it for a more chunkier texture.
Insert an ice cream stick or skewer deeply into the cut end of the banana. Dip the banana in the milk, then roll in the cereal crumbs and spices. Note: To get the cereal to stick press firmly into the banana.
Wrap in plastic and freeze. Serve cold. Note: I used this grape nut cereal for my frozen bananas. It is not as sweet as most cereals, and a bit expensive in Trinidad. A good substitute is the Sunshine Granola cereal for this recipe.