We address independent component analysis (ICA) of piecewise stationary and non-Gaussian signals and propose a novel ICA algorithm called Block EFICA that is based on this generalized model of signals. The method is a further extension of the popular non-Gaussianity-based FastICA algorithm and of its recently optimized variant called EFICA. In contrast to these methods, Block EFICA is developed to effectively exploit varying distribution of signals, thus, also their varying variance in time (nonstationarity) or, more precisely, in time-intervals (piecewise stationarity). In theory, the accuracy of the method asymptotically approaches Cramér–Rao lower bound (CRLB) under common assumptions when variance of the signals is constant. On the other hand, the performance is practically close to the CRLB even when variance of the signals is changing. This is demonstrated by comparing our algorithm with various methods that are asymptotically efficient within ICA models based either on the non-Gaussianity or the nonstationarity. The benefit of our algorithm is demonstrated by examples with real-world audio signals.