Preheat the oven to 175 C. Line a 9x5 loaf tin with non-stick baking paper, leaving a little overhang for removal. If using regular baking paper, make sure you grease the tin, and then the paper as well.
First prepare the figs by chopping each one into 6 to 8 small pieces, depending on how chunky you like them. Place the teabag in a deep mug and pour the hot water into it. Let the tea steep for a few minutes, then add the chopped figs to the mug. Cover and set aside.
Now in a bowl, sift the flour, baking powder, salt and spices together. Set aside.
In a mixing bowl, beat the butter and brown sugar with a hand mixer until pale and fluffy, then add the vanilla.
Now add a few spoonfuls of the flour mixture (to prevent the batter from splitting), then add the eggs one at a time, beating after each one.
Fold in the remaining flour mixture, taking care not to over mix the batter. It is fairly thick at this stage.
Now stir in the chopped walnuts. Drain the figs through a sieve, placing a bowl underneath to catch the liquid. Add the figs to the batter, along with 1/4 cup of the liquid. Fold again to combine till smooth.
Spoon the batter into the prepared tin, smoothening the top. Bake for 50 to 60 minutes until a toothpick poked in the center comes out clean. If the top is darkening too fast, cover the tin loosely with foil. Since all ovens vary, start checking for doneness at 45 minutes.
Allow the cake to cool in the tin for 10 minutes, then lift out using the overhang and place on a wire rack. Peel off the sides of the paper. Let the cake cool completely at room temperature.
To make the icing, combine the sugar, butter and milk in a small saucepan on low heat. Stir till the butter has melted and sugar has completely dissolved. Take it off the heat and stir in the sifted icing sugar, until completely combined. It will seem runny but the icing will thicken in just a few minutes so make it just before you plan to frost the cake.
Now pour the icing all over the top off the cake, letting it drip down (place a tray underneath). Scoop up all off the icing that falls down and spoon it back over the cake. As it sets, it will harden and turn opaque.
Slice and serve! The iced cake can be stored at room temperature for 2 days, after which it should be stored in the fridge for about a week. Happy baking!