Yes, this is now possible. You can go to the member's profile and then click on the Edit Profile button. In the next screen, scroll down until you see the Delete Account Permanently under the Danger Zone section. Hit that button and choose OK when you get this prompt window: "Are you sure you want to delete this user? This action can not be undone!".
The next prompt is "Do you want to delete all data associated with this user?". You can click OK to remove all content/activities/data associated with the member. If you hit Cancel, the member will still be deleted but the data associated with the user will not be removed.