That gave Arsenal the initiative.
Theo Walcott, Nacho Monreal, Alex Oxlade-Chamberlain and Olivier Giroud converted their spot kicks to hand Arsenal their first trophy of the season.
Five other Nigerian players, past and present, who have won the FA Community Shield include Daniel Amokachi in 1995 with Everton, Nwankwo Kanu with Arsenal in 1999 and Celestine Babayaro who won it in 2000 with Chelsea.
It had been an even contest. Both benefited from defensive lapses.
The game then turned in the 80th minute when Pedro was given a straight red card for a lunge on Mohamed Elneny, catching him on the Achilles. "And don't forget today Arsenal didn't play with many strong players", he said.
In the new-look penalty shootout Courtois and Morata failed to hit the target as Chelsea lost for the third time in the last four meetings with Arsenal.
Arsene Wenger will be delighted his side managed to get a confidence-boosting win in their first proper game of the season.
Wembley was united in remembrance on Sunday, hoping to raise £1.25million for the victims of the tragedy. In his place starts Michy Batshuayi, with new striker signing Alvaro Morata on the bench.
Arsenal were definitely missing their bug guns including Mesut Ozil and Alexis Sanchez while Chelsea also had their share of absentees; biggest being Eden Hazard.
But here Chelsea's defence was stretched by the Gunners' pacey three-pronged attack.
Arsenal started brightly with Lacazette, Danny Welbeck and Alex Iwobi all having early half-chances.
Sead Kolasinac is already an Arsenal cult hero.
Pedro returns to action after suffering a facial injury during the recent friendly against Arsenal in China.
The video below is the entire shootout, including what can only be described as a solar eclipse, Petr Cech saved a penalty!
Willian was booked for simulation in the Arsenal box late in the half as the sides cancelled one another out.
Chelsea had the lead just after halftime when Granit Xhaka's attempt at a clearance went high into the air and was flicked by Gary Cahill into the path of Moses, who finished from close-range. He took one touch on his chest and then slipped the ball in.
Elneny fired over soon afterwards as Cahill only half-cleared a Bellerin cross.