Okafor also had 16 rebounds while Matt Carroll contributed 12 points. Charlotte won for the fourth time in seven games.
Andres Nocioni paced the Bulls with 25.
After falling behind by 13 early in the third period, Chicago made a game of it with a 12-2 run.
The Bulls still trailed by only four in the early stages of the fourth quarter when Charlotte went on a nine-point run. Back-to-back jumpers by Nazr Mohammed and Wallace gave Charlotte an 83-68 cushion with six minutes to play.