Preheat the oven to 350 degrees F (175 degrees C). Grease and flour a 10-inch tube pan.

Place dried figs into a saucepan and cover with water. Bring to a simmer over low heat and cook until soft, about 5 minutes. Drain figs, reserving 1/2 cup cooking liquid.

Sift flour, baking powder, salt, baking soda, cinnamon, and cloves into a bowl.

Cut figs into 1/4-inch cubes. Combine buttermilk and reserved cooking liquid in a medium bowl.

Beat sugar and butter in a large bowl with an electric mixer until light and fluffy. Beat in eggs, one at a time, then stir in vanilla. Beat in flour mixture alternately with buttermilk mixture, then stir in figs and walnuts. Pour into the prepared pan.

Bake in the preheated oven until a toothpick inserted into the center of the cake comes out clean, 50 to 60 minutes. Cool in pan for 15 minutes, then turn out onto a wire rack and cool completely.